At the same time, reports indicated that Apple has been testing CXMT memory chips for products including iPhones and MacBooks. The developments come less than three weeks after CXMT's shares soared 466% on their first day of trading on July 27. The company raised about 57.92 billion yuan ($8.6 billion) in Asia's largest initial public offering of 2026 and the biggest mainland Chinese semiconductor listing on record. First-day trading volume exceeded 141 billion yuan, setting a record for an A-share company. Apple Chief Executive Tim Cook has publicly noted "very significant constraints" and limited flexibility in the memory supply chain.