Apple raises MacBook Neo price to $699

• Apple raised prices on several MacBook and iPad models after memory and storage costs increased.
• Apple shares were down at $279.74 after the price update.
• Apple kept iPhone prices unchanged while raising selected MacBook and iPad prices.

Apple (NASDAQ) raised prices on several MacBook and iPad models, including lifting the entry-level MacBook Neo from $599 to $699.

The price changes came as Apple faced higher memory and storage costs tied to a global shortage of key components.

“Unfortunately, price increases are unavoidable,” said Apple chief executive officer Tim Cook.

Apple raised the MacBook Air from $1,099 to $1,299, the 14-inch MacBook Pro from $1,699 to $1,999, and the 16-inch MacBook Pro from $2,699 to $2,999.

Following the announcement, Apple's share price was down at $279.74.

Apple also raised the 11-inch iPad Air from $599 to $749, the 13-inch iPad Air from $799 to $949, the 11-inch iPad Pro from $999 to $1,199, and the 13-inch iPad Pro from $1,299 to $1,499.

Apple did not raise iPhone prices, keeping its largest product line outside the latest round of increases.