Why did AAPL move on Jul 1, 2026?

Apple's stock rose following reports that the company is in discussions to purchase memory chips from Chinese manufacturers, specifically targeting Changxin Memory Technologies and Yangtze Memory Technologies for devices sold in China [1, 3, 9]. To facilitate this supply chain move, Apple has simultaneously entered into talks and a lobbying push with the Trump administration regarding these Chinese chip purchases [2, 3, 5]. This company-specific regulatory and supply chain development was widely reported by major financial outlets and market commentators late in the trading session [4, 6, 7, 8].