Ferrari Stock Jumps on China-Led EV Demand as Apple Faces Fresh US Chip Pressure

• Ferrari stock gained after strong China demand helped sell out the automaker’s first EV, easing investor concerns over its electric future
• Apple is facing bipartisan pressure from US lawmakers over its reported plans to source memory chips from Chinese suppliers CXMT and YMTC
• These developments point to China’s dual role as a key growth market for global brands and an increasingly sensitive geopolitical flashpoint

China is once again shaping the fortunes of some of the world’s biggest companies, though not in the same way. Strong demand for Ferrari’s first EV has helped lift the luxury automaker’s shares after months of skepticism over its electric ambitions. At the same time, Apple is facing fresh political scrutiny in the US. This is over its reported efforts to source memory chips from Chinese suppliers. While one firm is cashing in on Chinese demand, the other is being forced to answer for its ties to the country.

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Ferrari EV Wins Over Buyers After Early Skepticism

Ferrari stock rose more than 4%. This comes as reports that the company had effectively sold out its planned 2026 production of the Ferrari Luce, its first fully electric model, within two months of unveiling the vehicle.

The Luce, priced at roughly €555,000 ($630,000), attracted close to 500 reservations despite criticism that followed its debut. Not everyone was convinced when Ferrari revealed the Luce in May. The stock fell after the launch. Investors are debating whether an electric Ferrari could command the same appeal as the brand’s V8 and V12 models. Online, the design drew comparisons to much cheaper electric cars.

These concerns appear to have eased. Reports revealed that around 20% of the model’s production is expected to be allocated to Chinese buyers. Even as China’s economy slows, demand for high-end luxury vehicles has remained resilient.

It should be noted that Ferrari’s Luce was co-designed by former Apple design chief Jony Ive. While Ferrari is seeing strong demand for its first EV, Apple is facing renewed pressure in the US over its reported plans to source memory chips from Chinese suppliers.

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Apple’s China Chip Strategy Draws Bipartisan Scrutiny

A bipartisan group of senators, led by Republican Jim Banks and Senate Democratic leader Chuck Schumer, has urged Apple CEO Tim Cook to abandon any plans to source memory chips from Chinese manufacturers. This includes ChangXin Memory Technologies (CXMT) and Yangtze Memory Technologies (YMTC). Both companies appear on a Pentagon list of firms believed to support China’s military.

The lawmakers argued that approving the chips, even for devices sold only in China, could create long-term dependence on suppliers tied to a strategic rival. They also warned the move could undermine billions of dollars being invested by US and South Korean memory makers. This includes Micron Technology’s planned $250 billion domestic expansion and SK Hynix’s $4 billion advanced packaging facility in Indiana.

Apple has reportedly explored sourcing chips from CXMT and YMTC as the AI boom tightened global memory supplies and pushed component prices higher. The senators have asked the company to respond by Aug. 21. They have to detail whether it will rule out using memory from the two Chinese firms.

For Ferrari, China is validating one of its biggest product launches in years. For Apple, the same country is becoming a source of growing political scrutiny.

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