Shares of Tesla, Inc. (TSLA) and SpaceX (SPCX) slipped 1% overnight late Thursday as CEO Elon Musk warned that AI demand is far outpacing production, adding to concerns after Apple raised prices on key devices to offset surging memory and storage costs. TSLA shares are down over 6% so far this week, while SPCX is down 17%. Musk called the component price spike the “biggest” he has ever seen, responding to Apple CEO Tim Cook’s warning that the component-cost surge was unlike anything he had seen “in any area in over 40 years.” Apple raised prices on Thursday across several MacBook and iPad models, marking its first formal move to pass higher memory and storage costs on to consumers. Cook called the cost shock a “hundred-year flood” and said Apple can’t fully shield consumers. Capital spending by Alphabet, Amazon, Meta, Microsoft and Oracle is expected to hit $741 billion this year, up 75% from last year.