Apple CEO Tim Cook says the iPhone maker must raise its prices to offset the impact of the rising memory and storage chip prices. According to one estimate, this year’s iPhone 18 Pro could cost as much as $1,299!
“Unfortunately, price increases are unavoidable,” Cook said Wednesday in an interview with The Wall Street Journal. “We’re doing our best to mitigate the huge increases that are being passed to us, and we’ve been trying to shield our customers from the increases, but the situation has become unsustainable.”

February 28, 2006: Apple introduces an upgraded Mac mini, an affordable computer powered by an Intel processor.