Apple Inc. (AAPL.US) CEO Tim Cook told The Wall Street Journal that the company plans to raise product prices to offset surging costs of memory and storage chips.

He said price hikes are unfortunately unavoidable, adding Apple is making every effort to ease the substantial cost pressure passed on by suppliers and has been working to shield customers from the impact of price hikes, but the current situation has become difficult to sustain.

Cook declined to disclose the specific timing, magnitude or affected products of the planned price increases.

Apple’s next major product launch is likely to take place in September, when the iPhone 18 series is expected to be unveiled, including a new foldable iPhone model.
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AASTOCKS Financial News
Website: www.aastocks.com

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Stock & Type	Code	Strike(Call Level)	Last	Effective Gearing
APPLE (C)	11132	300 (-)	0.320	7.9 X
APPLE (P)	11063	248 (-)	0.068	9.4 X