Apple stock price declined sharply on Thursday after the company raised the prices of all Macs, iPads, home devices and the Vision Pro, due to an increase in the cost of memory chips.
Apple share price ended 6.15% lower at $275.15 apiece on the Nasdaq. During the session, the stock dropped as much as 6.59% to an intraday low of $273.75 per share, posting its biggest intraday drop since April 10, 2025.
In the extended trading hours, Apple stock price rose 0.41% to $276.29 apiece.
Apple Price Hike
Apple raised the prices of its MacBook computers, iPad tablets and other products, citing spiraling memory and storage costs sparked by the rise of artificial intelligence (AI).
The starting price of the MacBook Neo has been raised to $699 from $599, while the 13-inch MacBook Air has been increased to $1,299 from $1,099. The 14-inch MacBook Pro now costs $1,999 as against earlier $1,699, while the 16-inch model is now priced from $2,999, up from $2,499.
The prices of iMac desktop have been increased to $1,499 from $1,299, while the Mac Studio desktop price has been hiked to $2,499 from $1,999.
The Apple TV streaming device price rose from $130 to $200.
The price hikes, which went live on its online retail store Thursday, are in effect globally.
However, Apple did not raise iPhone, Apple Watch or AirPods prices, but hinted there may be more price adjustments to additional products in the future. iPhone is the company’s main source of revenue.
Apple, in a statement, said that the consumer electronics industry is facing an unprecedented challenge.
“The rapid expansion of AI data centres has created an extraordinary surge in demand for memory and storage. We have never seen a component price increase this much, this quickly. We have shielded our customers from these increases so far, but we have now reached a point where we need to begin raising prices on a number of products, including today’s increases for iPad and Mac,” the statement said.
Meanwhile, the US stock market ended mixed on Thursday, as losses in Big Tech shares dragged Nasdaq lower.
The Dow Jones Industrial Average rose 71.72 points, or 0.14%, to 51,920.62, while the S&P 500 eased 0.73 points, or 0.01%, to 7,357.49. The Nasdaq Composite closed 118.03 points, or 0.46%, lower at 25,358.60.
