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Apple customers may soon pay more for their favorite devices as the company faces soaring costs for memory and storage chips.

The tech giant’s CEO, Tim Cook, told The Wall Street Journal that Apple has tried to absorb the increases but can no longer fully protect customers from higher prices. Cook did not say when prices would rise or which products would be affected.

“Unfortunately, price increases are unavoidable,” Cook told the outlet. “We’re doing our best to mitigate the huge increases that are being passed to us, and we’ve been trying to shield our customers from the increases, but the situation has become unsustainable.”

HOW YOU CAN GET A SLICE OF APPLE’S $250M IPHONE SETTLEMENT

Apple’s next major product launch is expected in September, when the company is likely to unveil its iPhone 18 lineup. (Kyle Grillot/Bloomberg via Getty Images / Getty Images)

Apple’s next major product launch is expected in September, when the company is likely to unveil its iPhone 18 lineup.

The remarks come as artificial intelligence (AI) companies buy up huge amounts of memory and storage chips, according to The Wall Street Journal.

Research firm TechInsights estimates Apple would need to add about $270 to the next iPhone Pro model to maintain its profit margins, the outlet reported.

APPLE CHIEF TIM COOK SAYS IT WAS THE ‘RIGHT TIME’ TO STEP DOWN AS CEO

Apple CEO Tim Cook said the company can no longer fully protect customers from higher prices.  (David Paul Morris/Bloomberg via Getty Images / Getty Images)

Cook said DRAM chips are a key concern because more of them are now being used for AI servers.

“There’s less supply at a time when consumers want devices and the memory guys are passing along huge price increases,” Cook told The Wall Street Journal. “We definitely need memory pricing and supply to return to reasonable levels for consumer products. That’s the bottom line.”

Apple may use its cash reserves to help expand chip supply, Cook said, but the company does not plan to build its own memory factories.

“This is a hundred-year flood,” said Cook. “I’ve never seen anything like it in any area in over 40 years.”

FORMER APPLE CEO SEES OPENAI POSES LARGEST COMPETITIVE THREAT TO TECH GIANT IN YEARS

The remarks come as artificial intelligence companies buy up huge amounts of memory and storage chips. (Kevin Carter/Getty Images / Getty Images)

Apple announced earlier this year that Cook will step down on Sept. 1 after 15 years as chief executive. 

He will transition to executive chairman of the company’s board of directors and will be succeeded by longtime Apple veteran John Ternus, the company’s senior vice president of hardware engineering.

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Apple could not immediately be reached by FOX Business for comment.

FOX Business’ Bonny Chu contributed to this report.

LONDON — British television personality Jeremy Clarkson has been diagnosed with an aggressive form of prostate cancer, the former Top Gear host disclosed during filming of his reality series Clarkson’s Farm, sharing the news with coworkers shortly before undergoing surgery.

Clarkson, 66, revealed the diagnosis in an episode of the Prime Video show, telling farm manager Charlie Ireland and farmhand Kaleb Cooper that he had known since May and had since undergone a biopsy confirming the aggressive nature of the cancer. The disclosure came as the team discussed harvest plans, with Clarkson responding to the schedule by simply saying, “F***.” He then informed them, “I’ve got cancer.”

As his coworkers expressed shock, Clarkson reassured them that the cancer was caught early. He indicated optimism about treatment outcomes while acknowledging the timing conflicted with farm work. “But it’s really early, so the treatment’ll be … you know,” he said, trailing off. He confirmed having surgery to remove “10 per cent” of his prostate but later revealed complications.

In a hospital bed scene at the episode’s conclusion, Clarkson updated viewers on his condition. “Some of the treatment has gone awry, let’s say. I’m going to be here for a little while,” he said. “If this is all successful, I’ll see you for season six. And if it isn’t, I won’t.”

The revelation marks the latest health challenge for Clarkson, who underwent urgent heart surgery in October 2024 after experiencing chest tightness. Doctors told him he may have been days from a heart attack due to blocked arteries.

Context of the Diagnosis

Clarkson’s prostate cancer diagnosis places him among more than 64,000 men expected to be diagnosed in the United Kingdom this year, according to health statistics. Prostate Cancer UK notes that one in eight men in the UK will be diagnosed in their lifetime, with the disease even more prevalent in Australia where one in five men can expect a diagnosis by age 85.

The condition’s increasing incidence has heightened public awareness, with campaigns encouraging early screening. Clarkson’s public disclosure may contribute to broader conversations about men’s health and the importance of timely medical attention.

His farm colleague Gerald Cooper, 77, was also diagnosed with prostate cancer and featured in an earlier season of the show. Cooper has since made a full recovery, providing a positive note amid Clarkson’s own battle.

Clarkson’s Career and Public Persona

Known for his outspoken style and long tenure on Top Gear before his departure from the BBC, Clarkson has built a significant following through Clarkson’s Farm, which documents his attempts at running a working farm in Oxfordshire. The series has resonated with audiences for its blend of humor, rural life challenges and authentic portrayal of Clarkson’s personality.

His health updates come as the show continues to film, with Clarkson balancing production demands and medical treatment. The latest episode highlights the personal toll such diagnoses can take, even for public figures with access to prompt care.

Clarkson has not provided further details on his current condition or long-term prognosis beyond the hospital scene. Representatives for the presenter and production company have not issued additional statements.

Broader Implications for Men’s Health

Prostate cancer remains one of the most common cancers among men, with early detection significantly improving outcomes. Experts emphasize regular screening for those at higher risk, including older men and those with family histories. Clarkson’s case underscores that even high-profile individuals can face serious health challenges, potentially encouraging others to seek medical advice.

Health organizations continue promoting awareness campaigns, noting that symptoms can be subtle and routine check-ups are essential. Advances in treatment have improved survival rates, but complications during recovery, as Clarkson experienced, highlight the need for comprehensive care.

Public and Industry Reaction

News of Clarkson’s diagnosis has drawn messages of support from fans and colleagues across the entertainment industry. His transparent approach on Clarkson’s Farm aligns with the show’s candid style, allowing viewers a glimpse into personal struggles alongside farming adventures.

The series has previously addressed health topics through Cooper’s storyline, demonstrating its willingness to tackle real-life issues. Clarkson’s update may raise awareness while maintaining the program’s mix of entertainment and authenticity.

As filming for potential future seasons continues, Clarkson’s health will likely influence production plans. The presenter has expressed hope for a sixth season if treatment succeeds, leaving the door open for more episodes documenting farm life and personal recovery.

Looking Ahead

Clarkson’s battle with prostate cancer adds a serious dimension to his public persona, known more for controversial opinions and automotive enthusiasm than vulnerability. His willingness to share the diagnosis on camera may inspire others facing similar challenges while humanizing a larger-than-life television figure.

For now, focus remains on his recovery and the success of ongoing treatment. Medical experts advise that aggressive prostate cancers, when caught early, often respond well to intervention, though individual outcomes vary based on specific circumstances and overall health.

As Clarkson navigates this health journey, supporters and viewers of Clarkson’s Farm will await updates on both his condition and the farm’s progress. The series has built a loyal audience through its honest portrayal of rural challenges, and this latest development adds another layer of real-life drama to the popular show.

Health authorities continue encouraging men to discuss prostate cancer screening with their doctors, particularly as they age. Clarkson’s public experience serves as a reminder of the importance of vigilance and early action in addressing common men’s health issues.

MELBOURNE — Peter Fox, the eldest son of Australian trucking magnate Lindsay Fox, has long been a central figure in one of the country’s largest privately owned logistics empires. As executive chairman of Linfox until his recent extended leave, Fox played a pivotal role in expanding the family business across the Asia-Pacific region while navigating the complexities of succession planning in a multibillion-dollar enterprise.

Linfox, founded by Lindsay Fox in 1956, has grown from a single truck operation into a major supply chain solutions provider with thousands of vehicles and operations spanning multiple countries. Peter Fox’s career within the company reflects both dedication to the family legacy and adaptation to modern logistics demands. Here are 10 essential facts about the executive who has helped shape Linfox’s trajectory for decades.

1. Eldest Son of Lindsay and Paula Fox

Peter Fox is the eldest of six children born to Lindsay and Paula Fox. His position as the firstborn has placed him at the forefront of family business responsibilities, with expectations to carry forward the values instilled by his parents. The Fox family has emphasized philanthropy and responsible stewardship of their resources, with Peter publicly reinforcing these principles in company statements.

2. Executive Chairman of Linfox Group Companies

Until taking extended leave in late 2025, Peter Fox served as Executive Chairman of Linfox Pty Ltd, Linfox Australia Pty Ltd, Linfox International Group Pty Ltd and Linfox Armaguard Pty Ltd. His appointment in 1993 marked the beginning of a long tenure guiding the company’s strategic direction, operational efficiency and expansion into new markets.

3. Early Career Path Before Joining Linfox

Before fully committing to the family business, Fox worked at Mayne Nickless as a trainee cadet. He then joined Linfox in Brisbane as a Trainee Supervisor, gaining hands-on experience in logistics operations. This practical foundation helped him understand the business from the ground up before assuming leadership roles.

4. Wide Range of Operational and Management Roles

Fox held diverse positions across Linfox businesses, progressing through operational and management roles. This broad exposure provided deep insight into supply chain challenges, customer needs and operational efficiencies. His experience informed strategic decisions as the company scaled from domestic trucking to international logistics solutions.

5. Education in Distribution Management

Fox earned a Certificate in Effective Distribution Management from UNSW Australian Graduate School of Management in 1983. This formal education complemented his practical experience, equipping him with analytical tools for managing complex logistics networks in a competitive industry.

6. Recent Extended Leave from Leadership

In December 2025, Peter Fox began an extended leave of absence from his executive chairman role, expected to last until April 2026. The sabbatical followed intense negotiations to stabilize Armaguard, Linfox’s cash-in-transit business. Non-family directors have stepped up during his absence, highlighting evolving succession planning within the family empire.

7. Commitment to Family Philanthropy

The Fox family, including Peter, has maintained a strong philanthropic ethos. Peter has spoken about giving being instilled from a young age. “Giving was instilled in us by our parents, Lindsay and Paula, from a young age, and it’s something that we intend to carry forward for generations to come,” he said in a Linfox statement. “As my father often says, ‘We’re a family that enjoys giving. You never get poor from giving.’”

8. Role in Linfox Succession Planning

Peter Fox’s temporary step back has brought family succession discussions into sharper focus. As Lindsay Fox approaches his late 80s, questions about leadership transition have intensified. Peter’s experience makes him a key figure in any long-term plan, though the family has increasingly involved non-family executives in governance roles.

9. Contribution to Linfox’s Asia-Pacific Expansion

Under Peter’s leadership, Linfox expanded significantly across the Asia-Pacific region, operating thousands of trucks and employing tens of thousands of people. The company’s growth from Australian roots to a regional powerhouse reflects strategic vision in supply chain solutions, including specialized services like Armaguard cash logistics.

10. Reputation for Discretion and Operational Focus

Colleagues and industry observers describe Fox as hardworking and independent, with a focus on operational excellence rather than public spotlight. His low-key approach has helped maintain Linfox’s private status while navigating competitive pressures in the logistics sector. Recent health or personal reasons for his leave remain private, consistent with his preference for discretion in family and business matters.

Linfox’s Enduring Success Under Family Leadership

Linfox’s transformation from a single-truck operation in 1956 to a major regional player demonstrates the Fox family’s long-term vision. Peter Fox’s contributions have been instrumental in professionalizing operations, adopting new technologies and expanding service offerings. The company’s continued private ownership allows flexibility in strategy while preserving core family values of hard work and community contribution.

The logistics industry faces ongoing challenges including supply chain disruptions, labor shortages and sustainability demands. Linfox’s leadership, with Peter Fox’s influence even during leave, has positioned the company to address these through innovation and strategic partnerships. Recent investments in electric vehicles and digital tracking systems reflect adaptation to modern expectations.

Succession and Future Direction

Peter Fox’s extended leave has prompted discussion about Linfox’s future leadership structure. Lindsay Fox’s children, including Peter, Andrew and David, have taken on various roles, with non-family executives providing additional expertise. The family’s approach balances legacy preservation with professional management, a model common among successful multigenerational businesses.

As Linfox navigates the next phase, Peter’s experience and institutional knowledge remain valuable assets. His temporary absence has allowed other leaders to demonstrate capability, potentially strengthening overall governance. The company’s commitment to responsible growth and philanthropy suggests continuity in core principles regardless of specific leadership arrangements.

Industry Recognition and Broader Impact

Linfox’s success under the Fox family has earned industry respect and community goodwill. Peter’s leadership contributed to operational excellence and strategic expansion while maintaining the company’s reputation for reliability in critical logistics services. The business’s scale supports thousands of jobs and contributes significantly to regional economies across the Asia-Pacific.

Peter Fox’s story reflects broader themes in Australian family business: balancing tradition with innovation, navigating succession challenges and using success for community benefit. His career demonstrates how hands-on experience and strategic thinking can sustain growth across generations.

For those following Australian business, Peter Fox represents a key figure in one of the nation’s most successful private enterprises. As Linfox continues evolving, his influence and the family’s vision will shape its path forward. The company’s ability to adapt while honoring its roots positions it well for future opportunities in a dynamic global logistics landscape.

Peter Fox’s contributions to Linfox, combined with the family’s philanthropic ethos, underscore the positive role family businesses can play in economic development and community support. As the company moves into its next chapter, the lessons from Peter’s tenure will likely inform continued success for generations to come.

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of VICI, NNN, ADC, O, OKE, WEC, NEE, DTE either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.