Apple Inc. (AAPL.US) CEO Tim Cook and his team have in recent weeks approached officials including US President Donald Trump, Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent, proposing the use of chips from China's CXMT and YMTC in Apple products sold outside the US to ease mounting cost pressures, the Wall Street Journal, citing sources, reported. However, major chip supplier Micron Technology, Inc. (MU.US) has been lobbying strongly against the proposal.

Micron CEO Sanjay Mehrotra reportedly warned Lutnick and other government officials that allowing Chinese companies such as CXMT to supply US technology firms could destroy the domestic US memory chip industry. He lobbied that Micron could help alleviate tight memory chip supply by accelerating factory construction and increasing investment in the US, reiterating that rising prices of consumer electronics products, including Apple devices, are not solely attributable to higher memory chip prices.
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AASTOCKS Financial News
Website: www.aastocks.com

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