Apple · Wall Street · CNBC Technology
Apple posts worst day in over a year after MacBook and iPad price hikes
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Apple on Thursday announced price hikes on MacBooks and iPads, its first formal move to pass higher memory and storage costs on to consumers after CEO Tim Cook said increases had become unavoidable.
Key facts
- Tarun Pathak, research director at Counterpoint Research, estimates the higher cost of components could add roughly $200 per iPhone for Apple
- In May, Apple stopped selling the lowest-priced configuration, removing the $599, 256GB option from its lineup
- Shares of the company closed more than 6% lower on Thursday after the price change, the worst fall since April 2025
- The memory crisis has been a major boon for suppliers like Micron, which reported a quadrupling in revenue and said its gross margin jumped from 39% a year ago to 84.9% in the most recent quarter
Summary
Shares of the company closed more than 6% lower on Thursday after the price change, the worst fall since April 2025. Apple's online store briefly went down Thursday morning and updated with the price changes. "The consumer electronics industry is facing an unprecedented challenge," the company said in a statement. Apple added that it has "reached a point where we need to begin raising prices on several products," leaving the door open to more increases down the line.