Understanding the Market | GIGADEVICE rises nearly 9% to a new high, reports say Apple hopes to procure Changxin memory, Citigroup is optimistic about the Changxin-related supply chain
GIGADEVICE rose nearly 9% in early trading, with its stock price reaching a new historical high. As of the time of publication, it was up 8.03%, priced at HKD 1,170, with a transaction volume of HKD 374 million. In terms of news, according to reports from China News Service citing foreign media, six informed sources revealed that to alleviate the cost pressure caused by rising memory chip prices, Apple is lobbying the U.S. government for approval to purchase memory chips from Changxin Storage. Well-known Apple supply chain analyst Ming-Chi Kuo pointed out: "The supply-demand gap for memory will continue to widen until 2027. This is the real reason Apple is lobbying the White House." Citigroup stated that Apple is reportedly interested in Changxin Storage's memory, and this recognition transforms Changxin Storage from a "domestic alternative story" into a "credible global fourth-largest DRAM manufacturer." The bank believes that obtaining approval for purchasing memory from Changxin Storage may face challenges, but Apple's consideration itself has already provided strong endorsement for Changxin Storage's technological advancements. It is expected that this news will bring benefits to Changxin Storage and its supply chain
According to the Zhitong Finance APP, GIGADEVICE (03986) rose nearly 9% in early trading, reaching a new historical high. As of the time of publication, it was up 8.03%, priced at HKD 1,170, with a transaction volume of HKD 374 million.
In terms of news, according to reports from China News Service, six informed sources revealed that to alleviate the cost pressure caused by rising memory chip prices, Apple Inc. is lobbying the U.S. government for approval to purchase memory chips from Changxin Storage. Well-known Apple supply chain analyst Ming-Chi Kuo pointed out: "The supply-demand gap for memory will continue to widen until 2027. This is the real reason why Apple is lobbying the White House."
Citigroup stated that Apple is reportedly interested in memory from Changxin Storage, which would transform Changxin Storage from a "domestic alternative story" into a "credible global fourth-largest DRAM manufacturer." The bank believes that obtaining approval to purchase memory from Changxin Storage may face challenges, but Apple's consideration itself has already provided strong endorsement for Changxin Storage's technological advancements. It is expected that this news will bring benefits to Changxin Storage and its supply chain
