Apple plans to raise product prices due to a surge in memory chip costs. CEO Tim Cook stated that these price increases are "unavoidable" as the current situation regarding memory chips is "unsustainable."

Cisco reported Q3 FY26 earnings of $15.8 billion, reflecting a 12 percent year-over-year increase, alongside double-digit growth in both revenue and profit. The company acknowledged challenges such as a rapidly changing market, intensifying competition, and a global component shortage.

Tim Cook will transition to the role of Executive Chairman at Apple on September 1. His tenure as CEO has been marked by significant financial success for the company.