Apple CEO Tim Cook revealed the company intends to raise prices on its products, citing a global shortage of memory chips as the primary driver. The announcement came during an interview with The Wall Street Journal. Cook did not specify which products would be affected or the extent of the price increases. The shortage is impacting the supply chain and increasing component costs for numerous tech companies. This move signals Apple’s response to rising production expenses and potential impacts to profit margins. Industry analysts predict the price hikes could affect future iPhone, iPad, and Mac models. Apple has previously absorbed some cost increases but is now passing them onto consumers.