US-based tech giant Apple is likely to raise prices across some of its products as surging memory and storage chip costs are due to an increase in demand from artificial intelligence (AI) data centres. The increased demand has put continued pressure on the company's margins, according to a report. 

According to IANS, speaking to the media on Thursday, Apple CEO Tim Cook said that the company can no longer fully absorb the sharp increase in component costs and may eventually pass some of the burden on to consumers.