Redington shares rally 10% after Apple CEO Tim Cook says price hikes 'unavoidable' amid AI boom

Redington shares surged over 10% after Apple CEO Tim Cook signalled potential price hikes citing rising memory and storage costs driven by AI demand. Investors see scope for improved margins at Redington, a key Apple distributor in India. The stock rally came even as the company reported a year-on-year decline in quarterly profit, though revenue growth remained strong.