Apple Stock Falters as US Seeks Shift Away From Chinese Chip Suppliers

Apple stock has been trading at $304.13 after a modest decline, but it's still holding above its long-term moving average.

The US Commerce Secretary, Howard Lutnick, urged Apple to avoid sourcing memory chips from China due to strategic and supply concerns.

This guidance may signal a need for the company to reconsider elements of its supply chain and manufacturing decisions, introducing additional regulatory uncertainty.

Apple's stock is currently positioned below its short- and medium-term moving averages, reflecting near-term selling pressure.