0353 GMT - Shares of several of Apple's key Chinese suppliers are higher after Tim Cook, the iPhone maker's chief executive, said a price increase is inevitable. Skyrocketing demand for memory and storage chips from artificial-intelligence companies has pushed up prices so much that Apple would have to raise device prices substantially to maintain its profit margins. The planned price increase shows that it has pricing power to pass higher costs to consumers and that could benefit its suppliers. Lens Technology, which supplies cover glass and touch-screen panels for Apple's iPhones and other products, jumps 9.45%. Shares of Luxshare Precision Industry, which assembles iPhones and other products, are up 2.1%. Foxconn Industrial Internet, another key assembler of Apple products, rises 2.1%. (sherry.qin@wsj.com)

(END) Dow Jones Newswires

June 17, 2026 23:53 ET (03:53 GMT)

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