Apple price hikes trigger 6% stock drop, $215 billion market‑cap loss

Apple announced significant price increases for its MacBook and iPad lines, citing soaring memory‑chip costs driven by AI‑data‑center demand. The move sent the company’s shares down 5‑6% on the Nasdaq, wiping roughly $215 billion to $275 billion from its market value in a single session.

The price hikes are the first major adjustment Apple has made to component costs, with MacBook Neo rising from $599 to $699 and iPad Pro 256 GB moving from $999 to $1,199. CEO Tim Cook told the Wall Street Journal that “price increases are unavoidable” as the AI‑driven chip shortage squeezes margins.

The broader tech market reacted similarly: the Nasdaq fell for a fourth consecutive day and other “Magnificent 7” stocks slipped, while chipmaker Micron Technology surged about 15‑16% on strong earnings and upbeat forecasts, benefiting from the same AI‑fuelled demand.

Analysts note the episode underscores how AI‑related semiconductor shortages are spilling over into consumer‑electronics pricing and could reshape pricing strategies across the industry.