Apple warns of iPhone 18 price hike as memory chip crunch deepens

Apple is preparing to raise product prices, citing a global shortage of memory chips, Chief Executive Tim Cook told the Wall Street Journal. Cook said the company would not absorb the full cost of sharp increases in memory and storage components and would pass part of it on to consumers. The crunch has been driven by large-scale chip purchases by technology companies building artificial intelligence data centers, tightening supply for consumer-electronics and automotive manufacturers. Tesla, Apple and more than a dozen other major firms have warned since early 2026 that memory chip shortages will constrain their production plans. Micron, one of the world's leading chip producers, has described the supply bottleneck as unprecedented. Tesla Chief Executive Elon Musk has said the issue is unlikely to be resolved through normal market channels and indicated the company may build its own chip fabrication facility. Industry representatives from the U.S. automotive, retail and electronics sectors have warned that rising chip demand could trigger steep price increases for consumer goods and broader supply chain disruptions. No further details on the timing or scale of the iPhone 18 price adjustments were immediately available.