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Chip stocks collectively strong, GigaDevice rises over 7%, Hua Hong Semiconductor rises over 6%.
Some media reports said that Apple is lobbying the Trump administration in hopes of obtaining approval to purchase memory chips from Chinese chip company ChangXin Memory. Citigroup said that Apple is interested in ChangXin Memory’s memory chips, and this recognition will shift ChangXin Memory from a “China-based domestic substitution story” to a “credible global fourth-largest DRAM manufacturer.” It is expected that this news will bring positive momentum to ChangXin Memory and its supply chain, including equipment suppliers and OSAT outsourced semiconductor packaging and testing firms.