HK Stock Market Move | GigaDevice Semiconductor Inc. (03986) rose nearly 9% to a new high. According to reports, Apple hopes to purchase Changxin memory. Citigroup is optimistic about the related supply chain of Changxin.

GigaDevice Semiconductor Inc. (03986) rose nearly 9% in early trading, reaching a new historical high. As of the time of writing, the stock rose by 8.03% to 1170 Hong Kong dollars, with a trading volume of 3.74 billion Hong Kong dollars. On the news front, according to reports cited by Zhongxin Jingwei from foreign media, six informed sources revealed that in order to alleviate the cost pressure caused by the rising prices of memory chips, Apple is lobbying the US government to approve the purchase of memory chips from Yangtze Memory Technologies. Renowned Apple supply chain analyst Ming-Chi Kuo pointed out: "The gap between supply and demand for memory will continue to expand until 2027. This is the real reason why Apple is lobbying the White House." Citigroup also stated that it is rumored that Apple is interested in Yangtze Memory Technologies' memory, and this recognition will transform Yangtze Memory Technologies from a "domestic substitute story" into a "credible global fourth-largest DRAM manufacturer." The bank believes that obtaining approval to purchase memory from Yangtze Memory Technologies may face challenges, but Apple's consideration itself has provided strong endorsement for the technological progress of Yangtze Memory Technologies. It is expected that this news will bring positive impact to Yangtze Memory Technologies and its supply chain.