Apple Raised Mac Prices by Up to $300 Overnight. iPhones Could Be Next.

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Tim Cook warned it was coming. Apple quietly raised prices on its Mac computers and iPads overnight, citing soaring memory and storage chip costs, according to the Wall Street Journal.

The base MacBook Air rose $200 to $1,299. The MacBook Pro jumped $300 to $1,999. The entry-level MacBook Neo rose $100 to $699. iPads didn’t escape either — the iPad Air rose $150 to $749 and the iPad Pro rose $200 to $1,199. iPhone prices held for now, but Apple hinted that it won’t last. “We have never seen a component price increase this much, this quickly,” the company said in a statement.

Blame the chips. Demand from Meta, Amazon and Google for AI chips has quadrupled prices over the past 12 months. Apple, which uses its massive purchasing power to keep component costs down, has run out of road.

Wall Street did not respond well to the news. Apple’s stock fell 6.1% — its biggest single-day drop in over a year. And the crisis isn’t going away soon. Incoming CEO John Ternus, who takes over on September 1, will inherit the problem on day one.