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Could Apple's China Play Be the Answer to Its Memory Pressure Problem?
Reported by Sam Quirke. Posted: 7/1/2026.
Key Points
- Apple is lobbying the U.S. administration to source memory chips from Chinese firm CXMT amid surging AI-driven chip costs.
- Wedbush cautioned the effort may offer limited relief, noting a global capacity shortage rather than an access problem drives prices.
- Despite a nearly 10% pullback, Apple's long-term story around AI, ecosystem loyalty, and Services revenue remains fundamentally unchanged.
- Special Report: SpaceX is offering you shares. Don't take them.
Shares of Apple Inc (NASDAQ: AAPL) are trading around $285 this week, down almost 10% from the all-time highs they hit earlier this month. A string of unhelpful headlines has weighed on sentiment, from the underwhelming Siri AI reveal at WWDC to last week's price hikes on MacBooks and iPads.
The latest update is more interesting than the market has so far given it credit for. It was reported last week that Apple has launched a lobbying campaign to secure clearance from the U.S. administration to procure memory chips from CXMT, a Chinese company currently on the Pentagon's 1260H list. For context, that is the U.S. government's official register of businesses operating in the country that are believed to have ties to the Chinese military.
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See the SpaceX play no one is talking about before September 25While the headline reads like another piece of complicated news for a stock that has had plenty of it, the underlying signal is potentially more constructive.
Apple is clearly moving quickly to address the cost pressure that has been weighing on it, even if the path is far from straightforward.
Why Apple Is Lobbying for Chinese Memory
The broader context here is important. Memory chip prices have been surging globally, driven by the same AI-related demand that has powered rallies in stocks across the market. For Apple, the impact is direct, with CEO Tim Cook publicly admitting last week that the cost pressure had become "unsustainable" and that "price increases are unavoidable." That admission was followed swiftly by price hikes across many of its core products, including its MacBook and iPad ranges, and the stock had its worst day in more than a year as a result.
The lobbying campaign now reported is an attempt to ease that exact pressure. CXMT is one of the largest memory chipmakers in China, and securing access to its output could go a long way toward offsetting some of the supply-side bottleneck Apple is facing.
The complication is that CXMT was added to the Pentagon's 1260H list this month due to its alleged links to the Chinese military. While Apple isn’t explicitly barred from buying from firms on that list, dealing with them carries reputational risks and has the whiff of desperation about it.
What Wedbush Is Saying
From that perspective, it’s understandable that Wedbush has cautioned that any benefit from this lobbying effort may be limited, at least in the short term. Apple tried something similar with a Chinese competitor of CXMT, YMTC, back in 2022 and faced significant pushback from Congress. There’s every chance the same resistance could repeat itself this time around.
The bigger problem, according to Wedbush, is that the underlying issue isn't really about access. It's about capacity. As the firm pointed out in a note to clients on the news, "there is simply not enough production capability to support current memory demand."
In other words, even if Apple succeeds in unlocking access to CXMT's output, it won’t fundamentally change the tightening supply-and-demand dynamic that has been driving prices higher. That is a fair caution, and it’s worth weighing carefully before getting carried away with the bullish framing.
Why the Market May Still Be Missing the Bigger Picture
That said, focusing purely on the near-term economics may miss the more important strategic signal. Apple is one of the most capable supply chain operators on earth, and the fact that it's actively lobbying the administration to expand its options speaks to a company that isn't simply sitting back and absorbing this cost squeeze. It is moving aggressively on multiple fronts to find a way through.
This needs to be viewed in the broader context of the strategic moves Apple has been making in recent weeks. The partnership with Intel Corp (NASDAQ: INTC) on domestic chip production, the deeper push into U.S. manufacturing, and now the lobbying effort on Chinese memory all point to the same underlying story.
Apple is acting to diversify its supply chain in every direction it can, and strategic agility has historically been one of its biggest competitive advantages. For investors, the path to success from this China play may not be smooth, but the direction of travel is reassuring.
A Stock Setup That's Becoming Hard to Ignore
The combination of all this with Apple's recent pullback makes the current setup interesting. The stock is now meaningfully cheaper than it was at the start of the month. Still, the long-term story, anchored by AI agentic potential, ecosystem stickiness, and a deepening Services revenue mix, hasn't actually changed.
For investors looking through the noise and asking whether Apple’s trajectory is meaningfully different today than it was a few weeks ago, the answer is increasingly that it isn't. The recent headlines might be telling investors to be careful, but the underlying picture is quietly telling them something rather different.
Why "Big Short" Investor Michael Burry Sees Upside in Beaten-Down Sportbook Stocks
Reported by Leo Miller. Posted: 7/12/2026.
Key Points
- Michael Burry recently bought shares of DraftKings and Flutter Entertainment, betting on a recovery in beaten-down sportsbook stocks.
- Burry believes prediction markets like Kalshi and Polymarket will eventually face government regulation and taxation, reducing their competitive threat to sportsbooks.
- Wall Street analysts largely agree with Burry, with consensus price targets implying 30% upside for DraftKings and 60% upside for Flutter.
- Special Report: SpaceX is offering you shares. Don't take them.
Investor Michael Burry made hundreds of millions of dollars during the Great Financial Crisis by shorting subprime mortgages. His success would later lead to his portrayal in the film “The Big Short,” cementing his reputation as a famed investor.
Burry’s hedge fund, Scion Asset Management, is now defunct. However, he remains part of the investment zeitgeist, offering his views on various assets.
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Watch Porter's full breakdown of Project Prophet and Emmet's systemNotably, Burry recently made his opinion known on one of the most beaten-down corners of the stock market in 2026: online sportsbook stocks.
The two most notable names in this space are DraftKings (NASDAQ: DKNG) and Flutter Entertainment (NYSE: FLUT). DraftKings operates a sportsbook app of the same name, while Flutter operates FanDuel.
Overall, DraftKings is down more than 20% on the year, while Flutter has lost nearly half of its value. Evidently, Burry thinks the market is wrong about these entertainment names, recently picking up shares of both.
The rise of prediction markets like Kalshi and Polymarket has been a major driver of the decline in DraftKings and Flutter shares.
However, Burry believes Uncle Sam will have something to say about prediction markets, significantly weakening their competitive threat.
Burry Reveals Sportsbook Purchase Prices and Weighting
Burry says he recently purchased shares of DraftKings at around $26 per share and Flutter at around $107 per share. Shares remain very close to these levels. Burry says his allocation between the two names is 40% DraftKings and 60% Flutter. It is notable that Burry is allocating to both stocks rather than just one. This helps limit company-specific risk, such as the possibility that either management team makes poor decisions that hurt only its own firm.
By doing so, Burry can bet on a broad recovery in online sportsbook stocks without putting all of his eggs in one basket. The slight overweight to Flutter may simply reflect the fact that the stock has fallen much harder. Additionally, Flutter has shown an ability to better convert the value of bets placed on FanDuel into actual revenue compared with DraftKings.
Burry’s Rationale: Governments Will Come for Prediction Markets
Prediction markets provide many of the same functions as online sportsbooks, allowing users to wager on the outcomes of events, including sports. Because prediction markets offer “event contracts,” they are federally regulated by the U.S. Commodity Futures Trading Commission rather than by states, as sportsbooks are.
In turn, they are technically legal in all 50 states, although CBS Sports notes that prediction markets are not currently live in Michigan, Minnesota, or Nevada. Meanwhile, only 30 states offer online sports betting, as many states have not legalized these platforms. Additionally, prediction markets often face significantly lower taxes than sportsbooks.
Burry ultimately believes prediction markets will not be able to face this lower level of legal scrutiny and taxation forever. He says, “Prediction markets exist in a loophole adjacent to a heavily regulated and taxed industry. In time, prediction markets will be subsumed into regulation and taxation.”
Notably, in Q3 2021, states collected $190 million in tax revenue from sports betting nationwide. By Q2 2025, that figure had risen 382% to $917 million. With that in mind, it is not unreasonable to think Burry’s argument has merit. If prediction markets take betting share from sportsbooks, states could lose out on this large and rapidly growing revenue source.
Wall Street Data Backs Burry’s Optimistic Outlook
Only time will tell whether Burry’s thesis that prediction markets will succumb to government intervention plays out. Smartly, DraftKings and Flutter are hedging for a reality in which it does not. Both firms have rolled out their own prediction market offerings, potentially allowing them to benefit from growth in this space. However, Burry’s thesis becoming a reality would be ideal. Kalshi and Polymarket do not have sportsbook platforms to fall back on if regulation crushes the prediction markets industry, while DraftKings and Flutter do.
Notably, Wall Street analysts tend to agree with Burry that the market is undervaluing DraftKings and Flutter. The MarketBeat consensus price target on DraftKings is $34.30, implying upside in the range of 30%. Meanwhile, the overwhelming majority of analysts have a Buy rating on the stock. Out of 40 ratings, DraftKings has 30 Buys, eight Holds, and two Sells.
From a price target perspective, analyst bullishness is even more pronounced when it comes to Flutter. The MarketBeat consensus price target on this name is $178.83, implying upside in the range of 60%. However, the ratings breakdown is somewhat less favorable than DraftKings. Out of 29 ratings, Flutter has 18 Buys, nine Holds, and two Sells.
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