ToplineApple’s stock plunged on Thursday after the tech giant announced price hikes for laptops and tablets, following a warning from CEO Tim Cook that the increases were “unavoidable” as an AI surge fueled higher memory and storage costs.Key FactsShares of Apple dropped by 5.3% to around $277 as of Thursday afternoon, paring back earlier losses of up to 6%, lowering its market value by roughly $275 billion to just over $4 trillion.The slide moves Apple below Alphabet ($4.1 trillion) as the third-largest company in the world by market capitalization, with the Google parent ranked behind Nvidia ($4.7 trillion).The price changes…

Last week, in an exclusive interview with the Wall Street Journal, outgoing Apple CEO Tim Cook warned that the memory chip crunch made price increases “unavoidable.” He also made what seemed like a promise: “We’re willing to use our balance sheet to help be a part of the solution.”  So…

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