Apple (NASDAQ: AAPL) Shares Rise 0.4% After Report Says Company Wants Approval to Purchase CXMT Memory Chips

Apple (AAPL) made headlines on June 29, 2026, as its stock ticked higher on fresh reports. AAPL shares rose around 0.4% to $285.10 in premarket trading after closing 3.1% higher at $283.78 on Friday, June 26. The catalyst: reports confirmed Apple is actively lobbying the Trump administration to secure approval to purchase memory chips from China’s ChangXin Memory Technologies (CXMT). The move comes as a global memory shortage fueled by AI demand squeezes Apple’s hardware margins and forces product price hikes.

Why Apple Wants CXMT Chips

Apple has been seeking assurances from the US Department of Commerce and other officials to prevent any future restrictions on purchasing memory chips from CXMT moves driven directly by rising memory costs that have already compelled Apple to significantly increase prices for its MacBook and iPad models.

According to the Financial Times, citing six people familiar with the matter, Apple has approached the White House, the Commerce Department, and other administration officials in recent weeks seeking approval to purchase memory chips from CXMT.

The context behind the urgency:

• MacBook and iPad prices raised by 15–25% in late June 2026
• Global DRAM suppliers Samsung, SK Hynix, and Micron currently supply Apple’s memory
• AI boom has tightened memory supply, pushing DRAM costs sharply higher
• Apple’s goal: diversify its memory vendor base and reduce supplier pricing power

Apple rises in premarket on report it seeks approval to buy China’s CXMT chips
https://t.co/xzYt15wGyR

— miksas (@msasot) June 29, 2026

Who Is CXMT and Why Is It Controversial?

CXMT is China’s largest producer of DRAM chips and is listed as a “military Chinese company” by the US Department of Defense under Section 1260H of the National Defense Authorization Act. The Pentagon designation creates serious political risk for any US company seeking to buy from the firm.

CXMT reported revenue growth of over 700% year-on-year in Q1 2026 and is preparing for an IPO in Shanghai worth roughly $4 billion. That rapid scale-up is what makes CXMT an attractive alternative supplier and a controversial one.

The Micron Factor

Micron has pushed for stricter limitations on US companies doing business with Chinese memory firms like CXMT, citing national security concerns with bipartisan support in Congress. Micron’s (NASDAQ: MU) stock fell 6.69% on the same day AAPL closed up 3.14%, a direct market reaction to Apple’s potential pivot toward CXMT supply. Samsung (OTC: SSNLF) and SK Hynix (OTC: HXSCL) face the same competitive threat if CXMT scales globally.

AAPL Stock: Key Data Points

The 52-week high for AAPL is $317.40, and the 52-week low is $199.26, with the all-time closing high of $315.20 set on June 2, 2026.

Current AAPL snapshot as of June 29, 2026:

• Premarket price: $285.10 (+0.4%)
• Prior session close: $283.78 (+3.1%)
• June 28 session range: $274.21 – $285.95
• 52-week high: $317.40
• 52-week low: $199.26
• Market cap: ~$2.05 trillion
• 12-month analyst consensus target: $315.09 (47 analysts, Buy rating)

The Wedbush price target for AAPL stands at $400, while Barclays issued a Sell rating, and Morgan Stanley noted that Apple’s ecosystem supports its pricing power despite the ongoing memory cost headwinds.

Bottom Line: Apple’s move to lobby the Trump administration for CXMT chip access is a direct response to a memory cost crisis. With MacBook and iPad prices up 15–25%, CXMT’s 700% Q1 revenue surge making it an attractive alternative, and AAPL trading at $285.10 premarket on June 29, the outcome of this regulatory push could meaningfully reshape Apple’s hardware cost structure through the rest of 2026.

Disclaimer

The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.