The iPhone prices hikes might happen any day now

A few days ago, Apple CEO Tim Cook warned that Apple product prices are going up, due to the raging memory chip shortage that's putting pressure on consumer electronics manufacturers. "Unfortunately, price increases are unavoidable," said Cook, which pretty much seals the deal for pricier iPhones and other Apple gadgets. While Cook didn't share any other details, many folks (us included) assumed the price hikes would likely happen in the fall, when the company typically launches its new Apple Wa