Apple raised the prices of Macs and other products across the board today. For entry-level Macs, the increases are mostly $100–$200. However, if you want a MacBook Pro or Mac Studio with lots of memory and storage, it’s going to cost you dearly. Prices were also raised on the iPad, Vision Pro, Apple TV, HomePods, and many items sold through Apple’s refurbished store.

This should come as no surprise to anyone, but it’s painful just the same. Last week, Tim Cook told The Wall Street Journal that price increases were coming without getting into specifics. Apple was able to hold the line on prices for several months, even while smaller gadget and computer makers raised their prices or canceled products altogether.

What’s happening is simple macroeconomics. Demand for memory and storage is vastly outstripping supply, largely due to the insatiable appetite of data centers that power AI services. That demand shows no signs of waning, and supply isn’t as simple as turning a knob to 11. There just aren’t that many makers of memory chips and SSDs, and bringing new plants online to manufacture takes years and billions of dollars.

For now, the price of iPhones has been left alone. Some may see that as a silver lining, but I suspect all it means is that Apple has enough prebuilt inventory to get to September, when new iPhones are announced. Apple Watch and AirPods prices remain the same, too.

Could Apple have avoided this? I doubt it. The magnitude and speed of the price increases and the projected duration are beyond what any reasonable company could or would plan for.

That said, I do think the situation will get better with time, again because of macroeconomics. The increases may preserve Apple’s margins, but it’s going to reduce the number of customers who can afford its products. Margins only equate to profits if you have customers willing to pay for your product. So with time, if the data center demand slackens or new chip capacity comes online, prices will improve. Just don’t expect that anytime before 2027 or 2028 if current projections are to be believed.