Commerce Secretary says US opposes Apple buying Chinese memory chips

Core Impact Points

• US Commerce Secretary Howard Lutnick has urged Apple not to buy memory chips from Chinese companies CXMT and YMTC.
• The Trump administration has designated both YMTC and CXMT as Chinese military companies due to their alleged ties to China's military.
• Apple's plans to source memory chips from China have faced bipartisan pushback from US senators and lawmakers.
• The Commerce Department's Entity List restricts US companies from sharing product information with Chinese companies like CXMT and YMTC.
• Apple's new Advanced Manufacturing Center in Houston, Texas, is part of the company's $600 billion investment in domestic manufacturing.
• The decision may impact Apple's plans to expand its memory supply options and could have implications for the US market and economy.