TradingKey – Lawmakers have blocked Apple’s plan to procure Chinese memory chips, which helps safeguard Micron Technology’s interests and acts as a potential positive catalyst for its stock price.

According to a Cointelegraph report on July 30, U.S. senators urged Apple ( AAPL) to abandon plans to procure memory chips produced by Chinese companies, including ChangXin Memory Technologies (CXMT) and Yangtze Memory Technologies (YMTC). Currently, both Chinese memory chipmakers are blacklisted by the U.S. Department of Defense.

According to a report by The Wall Street Journal on July 24, to cope with skyrocketing global memory chip prices, Apple CEO Tim Cook recently lobbied the Trump administration for approval to use memory chips from CXMT…