Apple CEO Tim Cook stated in June 2026 that price increases for Apple products are unavoidable due to a global shortage of memory chips and rising input costs.

Cook said, "We're doing everything we can to mitigate the huge increases being passed on to us." He added, "This is a hundred-year flood." DRAM and NAND are components used inside nearly every computing device sold today.

McKinsey & Company's ConsumerWise team released a report on U.S. consumer sentiment in the second quarter of 2026. The report stated, "Against that backdrop, a smaller share of consumers reported feeling optimistic about the economy, while a greater share said they felt pessimistic." It noted that consumers faced uneven hiring, rising inflation, and ongoing geopolitical tensions. The report stated, "Consumers also reported intentions to pull back spending across most discretionary categories," adding that "big-ticket retail segments could face the greatest pressure."

According to the McKinsey report, "In many of these categories, 40 to 50% of consumers said they expect to spend less over the next three months." Consumers reported the greatest net negative intent to spend on accessories, jewelry, and home décor, while intent to spend on sports and outdoor equipment, furniture, and short-term apartment rentals dropped the most from the previous quarter. The report stated, "Across nearly every discretionary category, the share of consumers planning to spend more remains relatively small — generally in the low- to mid-teens."

Bank of America released its April Consumer Checkpoint report, which included internal data showing total credit and debit card spending per household rose 4.8% year-over-year in April, up from 4.3% in March. The report stated, "Excluding gasoline, card spending was still a strong 4.0% YoY." However, the report noted, "spending growth did slow in April from March across multiple discretionary 'nice-to-have' categories." It added, "Looking at the 7-day moving average of total card spending per household through the end of April suggests that spending growth may have eased more significantly towards the end of the month, particularly for discretionary spending."