As the GOP cautions Apple and Biden visits the Intel facility, Micron and Nvidia lead semiconductor sales higher.

Nvidia (NASDAQ:NVDA) and Micron Technology (NASDAQ:MU) were among the top gainers in the semiconductor market on Friday as President Biden visited Intel's (INTC) new Ohio plant and Republican lawmakers alerted Apple (NASDAQ:AAPL) about the potential use of memory chips from a contentious Chinese company.

Republican legislators have warned Apple (AAPL) that the tech company will be subject to further scrutiny from Congress if it purchases memory chips from Yangtze Memory Technologies for the iPhone.

Both Texas Representative Michael McCaul and Vice Chair of the Senate Intelligence Committee Marco Rubio were taken aback when they read media allegations that Apple (AAPL) was considering purchasing iPhone processors from Yangtze Memory Technologies.

In an interview with the Financial Times, Rubio stated, "Apple is playing with fire. It recognises the security concerns posed by YMTC. If it proceeds, the federal government will scrutinise it in a way that has never been done before. We cannot allow Communist Party-affiliated Chinese enterprises access to our telecom networks or the millions of iPhones used by Americans.

Such a partnership would face criticism because of the Chinese company's ties to the Beijing government, Seeking Alpha wrote at the time.

Apple (AAPL), based in Cupertino, California, informed the Financial Times that Yangtze Memory Technologies' chips are not utilised in any of its products, but that it was "considering sourcing from YMTC for NAND chips to be used in some iPhones sold in China."

The three biggest producers of memory chips worldwide are Micron (MU), SK Hynix, and Samsung (OTCPK:SSNLF). Micron (MU) increased 3.5% to $57.38 in late day trade.

On Friday, President Biden paid a visit to Intel's (INTC) manufacturing facility in Ohio and praised the newly passed CHIPS and Science Act, which gives the semiconductor industry with more than $50 billion in financial assistance.

According to Bloomberg, Biden remarked, "This law makes it a reality. Imagine if we had more of these kinds of factories around the country."

Competition for Intel (INTC) from Nvidia (NVDA) and Advanced Micro Devices (AMD) both experienced significant gains on Friday, increasing 3% and 2.5%, respectively.

Shares of Qualcomm (NASDAQ:QCOM) increased by more than 2.5% as European Union antitrust regulators declared they will not challenge a court judgement that eliminated a $1 billion fine against the semiconductor company for its choice to provide Apple (AAPL) with processors.

Since it would be too challenging to persuade the European Union Court of Justice on the decision's merits, it was previously reported that the EU authorities would probably not appeal the ruling.

Friday saw gains for a number of additional chipmakers, including Broadcom (AVGO), Analog Devices (ADI), Texas Instruments (TXN), and ON Semiconductor (ON).

Following the passage of the CHIPS Act by the US government, Micron (MU) recently disclosed a $15 billion investment in a new fab in Idaho.