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Forbes:

Apple’s shares dipped more than 1.6% in premarket trading early on Friday after a report that the company had cut back on the production of components for its new iPhone 18 Pro and ​iPhone 18 Pro Max due to slower demand for the new phones, which were priced higher than the previous year’s models amid an AI-industry-driven spike in memory chip prices.

But the end consumer doesn’t seem that interested in AI, if it’s going to drive the price up.

It may be it’s not AI, but a $100 price hike for a phone with a better camera, in hard economic times. But if AI is driving chip prices, then it ultimately it is about AI.

Welcome to the bubble. Look out below when it bursts.