5 AI Stocks Making Moves on Wall Street: Nvidia, Micron, and More

3. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 170

On June 29, Loop reiterated the stock as “Buy.” The firm noted that its channel checks show Apple is looking into China for “memory relief.”

Following up on our previous trail of breadcrumbs pointing towar ds AAPL looking deeper into using local content in/from China for myriad reasons, the recent news of AAPL lobbying the US Government to allow for procurement of DRAM from Chinese CXMT [ChangXin Memory Technologies} is right on course with our ongoing research.

Apple has reportedly begun launching a lobbying campaign seeking clearance from the Trump administration to source memory chips from CXMT, as per The Financial Times. CXMT is blacklisted in the U.S. owing to its alleged ties to the Chinese military.

Earlier this month, the Pentagon updated the 1260H list which blacklisted memory chipmakers CXMT and YMTC as well as dozens of other Chinese groups based on their alleged links to the People’s Liberation Army. Even though Apple is not prohibited from buying chips from CXMT or YMTC, such deals can lead to reputational risks for U.S. firms.

Apple is a technology company known for its consumer electronics, software, and services.