Apple raises prices of MacBooks, iPads as memory costs skyrocket

Reuters was ahead of the competition in reporting that Apple raised prices of iPads and MacBooks as it could no longer shield customers from soaring memory and story chip costs. Apple shares fell on the news in premarket trading and extended declines during regular trade, ending the day down 6.1%; marking its worst one-day percentage drop in over a year and losing roughly $265 billion in market capitalization.

Why it matters

The increase shows even the world’s most valuable consumer electronics company with supply chain relationships that are the envy of the industry is not immune to a memory price surge that has dulled the outlook for smartphone and PC sales.