Tim Cook: Apple 'Reluctantly Raised Prices' Due to '100-Year Flood on Memory Pricing'

Apple said it raised Mac and iPad prices in June after memory prices surged.

CEO Tim Cook described the memory-cost inflation as extreme and unprecedented.

He said Apple weighs units, revenue, and margin over the long term when setting prices.

Apple expects memory costs to stay elevated next quarter, though some impact may be offset by cheaper non-memory parts and inventory.

Cook did not say whether iPhone prices will also rise.