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Apple shares plunge after it hikes prices on iPads and laptops
NBC News • • general
Key Points:
- Apple shares dropped nearly 6% on Thursday, erasing about $250 billion in market value after the company raised prices on several key products due to soaring memory costs driven by AI demand.
- Price increases affected the MacBook Neo, MacBook Air, iMac, iPad, and Apple TV, with hikes ranging from $70 to $200, while iPhone, Apple Watch, and AirPods prices remained unchanged.
- Apple cited an unprecedented surge in memory and storage prices caused by rapid AI data center expansion, marking the first time it has raised prices mid-product cycle without new features or models.
- Other tech companies, including Microsoft’s Xbox division, are also raising prices due to memory shortages, reflecting broader industry challenges from limited suppliers and tight supply.
- Analysts expressed surprise at the scale and speed of Apple’s price hikes, warning that higher prices may negatively impact sales despite the company’s efforts to mitigate cost pressures.
