On the components front, Apple has been testing memory chips from China’s CXMT across product lines in China, including iPhones and MacBooks, to help mitigate a component shortage fueled by the AI boom, according to a Wall Street Journal report. CXMT raised 57.92 billion yuan, equivalent to $8.6 billion, in its Shanghai IPO last month, making it Asia’s biggest listing of the year, with its stock surging 466% on its trading debut and lifting its market capitalization to approximately $487 billion, surpassing Intel’s market value of $462.38 billion at the time.