Yahoo Finance
Apple'sTim Cooksounded the price increase alarm in June.
"Unfortunately, price increases are unavoidable," he toldThe Wall Street Journal.
"We're doing everything we can to mitigate the huge increases being passed on to us." The problem is a global shortage of memory chips.
These components, known as DRAM (memory) and NAND (storage), are inside nearly every computing device sold today.
It's a situation that means higher prices, not just for Apple, but for consumers across the board.
Normally, that would push consumers to stock up before prices increase, but that's not what's happening, according to Best Buy's outgoing CEO Corie Barry.
Traditionally, when people know that price increases are coming, that leads to at least some consumers buying ahead to meet future needs.
We are not seeing any indicators that would say the customer is pulling forward purchases," she said during Best Buy'sfirst-quarter earnings call.
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fashion after multi-million-dollar scandal 79-year-old fast-fashion retailer closes 128 stores Barry noted that the upcoming price increases, something that will hit pretty much any product that uses memory, unless the manufacturer opts to eat higher costs, have not impacted customer purchases.
"And in fact, very few really are worried about memory, as I say, in air quotes.
And we've been keeping a really tight eye on this.
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