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Apple Seeks Chinese-Made Chips, Tech Selloff Extends Into Asia | Daybreak Europe 7/2/2026
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July 2, 2026
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46:27Now PlayingBloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from London, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And we'll tell you what matters for investors in Europe, giving you insight before trading begins.
On today's show, Bloomberg understands that Apple is in negotiations to buy chips from two Chinese semiconductor firms which are currently on a Pentagon blacklist. Sources say CEO Tim Cook has appealed to Trump administration officials to help soften the political fallout from any possible deal with the Chinese chipmakers.
A selloff in chip stocks spread to South Korea, after a Bloomberg scoop on Meta's cloud business plans raised concerns over the speed of the AI buildout.
And commercial shipping through the Strait of Hormuz has surged over the past few weeks, with American military support helping boost oil flows to more than 10 million barrels per day, a US official said.
Today's guests: Hetal Mehta, St James's Place, Chief Economist & Marc Chowrimootoo, Hayfin, Portfolio Manager & Co-Head of Direct Lending.
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