Apple faces Aug. 21 Senate deadline over China chips

Apple faces bipartisan pressure to rule out memory chips from two Chinese suppliers as an AI-driven shortage tightens global supply and raises production costs. Summary Six US senators asked Apple to reject memory chips supplied by China’s CXMT and YMTC. Apple must provide a formal commitment by Aug. 21, according to the lawmakers’ letter. Both suppliers appear on the Pentagon’s Section 1260H list of Chinese military companies. AAPL closed 0.56% lower at $338.19 before extending its decline in Thursday trading. Senators give Apple an Aug. 21 deadline Six US senators have urged Apple CEO Tim Cook to abandon any plan to source memory chips from ChangXin Memory Technologies, or CXMT, and Yangtze Memory Technologies Co., commonly known as YMTC. The bipartisan letter was led by Republican Senator Jim Banks of Indiana and Senate Democratic leader Chuck Schumer of New York. Senators Andy Kim, Jeanne Shaheen, Mike Crapo and Pete Ricketts also signed it. Lawmakers asked Apple to confirm by Aug. 21 that it would not use components made by either supplier, including in devices produced exclusively for the Chinese market. Bloomberg first reported the letter. “Once a part clears qualification f...