Apple just rolled out a slew of price increases across Mac, iPad, Apple TV, HomePod and more product lines.

Apple CEO Tim Cook warned this was coming a week ago, as component pricing for memory and storage hits unprecedented levels. In a statement to Bloomberg today, the company acknowledged “this is not welcome news” and is “working tirelessly to find solutions”.

As it stands though, the company is faced with no choice but to raise prices to address the current problem. Until today, Apple has mitigated component shortages with almost no changes to like-for-like product pricing. But that runway has clearly run out.

It is interesting that Apple’s most popular product, the iPhone, has not seen a price increase today. It’s unclear if that is still coming or whether Apple has enough margin to spare to absorb that for a while longer.

It will be interesting to see what the prices for the iPhone 18 Pro start at, when Apple unveils the next-generation of its smartphone lineup in the fall. Analysts at Morgan Stanley recently estimated price increases of about $50 for the new iPhone Pro line, as memory cost increases can be somewhat offset by other savings, like the switch from Qualcomm to Apple’s own in-house modems.