What Happened
Tech Giant Lobbies Trump Administration for Clearance Amid Rising Costs
Apple is lobbying the Trump administration for clearance to buy memory chips from ChangXin Memory Technologies, a Chinese company blacklisted by the Pentagon. The move is aimed at easing financial pressure from rising chip prices, which have driven up costs for the iPhone maker. Apple has approached the Commerce Department and engaged other administration officials in its efforts to secure approval. The company raised iPad and MacBook prices recently, citing soaring memory and storage chip costs. This development was first reported by the Financial Times, according to Reuters.