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Apple (AAPL) CEO Tim Cook delivered some tough news for consumers this week. He announced that price hikes on Apple products are coming, and there is simply no way around it.
The warning came during an exclusive interview with the Wall Street Journal, where Cook said the situation with memory and storage chips has become too costly for Apple to absorb on its own. Cook told the Journal he has never seen anything like this in more than 40 years working in the electronics supply chain. "This is a hundred-year flood," he said.
