TradingKey – On the eve of its earnings release, Apple’s plan to procure Chinese memory chips was blocked, dragging its stock price lower.

On July 30, 2026, a bipartisan group of U.S. senators issued an ultimatum at a sensitive moment, just as Apple Inc. ( AAPL) was about to release its earnings, formally writing to CEO Tim Cook to demand that Apple commit to completely abandoning the procurement of memory chips from Yangtze Memory Technologies (YMTC) and ChangXin Memory Technologies (CXMT) by August 21. As of press time, Apple was down 0.92% in premarket trading, temporarily trading at $335.07.

Apple Stock Chart, Source: TradingView

According to a Wall Street Journal report on July 24, Cook had lobbied the Trump administration to apply to…