Tech giant Apple Inc. (NASDAQ: AAPL) is gearing up to implement price hikes across its range of products due to the rising costs of memory and storage components. CEO Tim Cook acknowledged the challenge of absorbing these escalated costs, stating, "Unfortunately, price increases are unavoidable." While efforts are being made to minimize the impact of these soaring expenses, Cook noted that the situation has become unsustainable. The specifics of which devices will experience price increases and the timing of these changes were not disclosed. Apple's upcoming major release, the iPhone 18 lineup, which is rumored to feature a foldable model, is anticipated to debut in September. Apple's stock performance is also being closely watched in light of these developments.