Apple’s price changes draw attention to AI memory issues; Micron stock climbs
Apple will hike prices to make up for higher memory and storage chip costs, tying AI expansion more clearly to consumer device prices. CEO Tim Cook told The Wall Street Journal that “price increases are unavoidable” after Apple had tried to cover the rising costs, Reuters reported. Gas prices are down. AAA said the average for regular gasoline in the U.S. dropped to $3.973 a gallon on June 19, dipping below $4 for the first time since March. Drivers are catching a break, but consumers could see higher costs next in devices, not at the pump.