Apple is increasing prices on its products, a move CEO Tim Cook deems “inevitable.” The price hikes are directly linked to a significant surge in the cost of memory chips, according to reports from the BBC. Cook, in an interview with The Wall Street Journal, explained that the current situation with memory chip pricing is driving the need for adjustments. While specific price increases for individual products weren’t detailed, the announcement signals a broader impact from supply chain pressures. This decision comes as Cook nears the end of his tenure as Apple’s chief executive. The company has not yet specified when the price increases will take effect or which products will be most affected.