Apple didn't want to raise its prices but was forced to do so because of exponential increases in memory costs, Apple CEO Tim Cook said today during the company's Q3 2026 earnings call.Apple increased prices for Macs and iPads in June because memory prices have surged.When asked whether Apple is aiming to protect gross profit dollars or product gross margins when considering pricing increases, Cook said it's multifactorial.
Cook did not comment on whether Apple plans to raise iPhone prices when the iPhone 18 Pro models and first foldable launch this September, but multiple analysts believe prices will go up.Cook said Apple is expecting to pay higher memory costs in the September quarter, though Apple will be able to partially offset it with lower costs on some non-memory components and a stockpile of inventory.
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