Apple Stock Plummets as CXMT's IPO Redefines Memory-Chip Landscape

Apple's stock price has taken a hit, falling to $303.41 on August 3 after opening at $309.72. This pullback comes as CXMT's blockbuster IPO is reshaping the memory-chip supply conversation.

The daily chart shows that Apple has lost its short-term uptrend and is now trading below both its 20-day EMA ($320.81) and 50-day EMA ($309.64). The RSI reads 40.33, indicating genuine selling pressure without reaching oversold extremes.

CXMT's IPO surge of 466% on its first day has introduced new supply-chain dynamics that matter directly for Apple. If the stock breaks below $300.06 support, it would confirm sellers' control. Reclaiming $309.64 would suggest a recovery.