Published 3 months ago

Apple shares slide after China government iPhone ban reports

Apple's stock market valuation has fallen by over $200 billion in the last two days as reports surfaced of Chinese government workers being banned from using iPhones for work. China is Apple's third-largest market and the ban could potentially impact annual iPhone sales by up to 10 million units.
Huawei's recent release of new smartphones, including the Mate X5 and Mate 60 Pro+, has caused concern for Apple, as it raises competition in one of Apple's biggest markets. Analysts believe this could mark a turning point for Huawei in its efforts to rival Apple.
The widening curbs on iPhone use by government staff in China reflect rising Sino-U.S. Tensions and the ongoing competition between the two nations. The restrictions not only affect Apple but also its suppliers, such as Qualcomm, Broadcom, and Texas Instruments, leading to a sell-off of tech stocks.

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Times of India

Apple loses about USD 200 billion in market capitalisation on reports of iPhone restrictions in China

Apple shares fell 3 per cent Thursday and are down more than 5 per cent for the week on reports of an iPhone ban for Chinese state employees that is being dictated by Beijing. The ban was first reported by the Wall Street Journal, which cited unnamed sources saying China is ordering officials at central government agencies not to use iPhones or other foreign branded phones.

3 months ago·India

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BBC News

Apple shares slide after China government iPhone ban reports

The technology giant's stock market valuation has fallen by almost $200bn in the last two days.

3 months ago·United Kingdom

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Reuters

Apple suppliers slide on China anxiety, rising competition from Huawei

China's widening curbs on iPhone use by government staff intensified a sell-off of tech stocks on Friday, fanning fears that Apple and its suppliers could take a hit from rising Sino-U.S. tensions and growing competition from Huawei.

3 months ago·United Kingdom

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Daily Express

Apple tumbles £160bn in two days after China 'bans iPhones in government'

The fall threatens to derail Apple's efforts to seize the top spot from Samsung as the world's largest smartphone maker by volume.

3 months ago·United Kingdom

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NDTV

Apple Shares Fall Sharply Amid Reports Of China Widening iPhone Curbs

Apple shares fell sharply for a second straight session on Thursday following reports of significant Chinese restrictions on iPhones at government offices and state-backed entities. Shares of the world's biggest publicly-traded company were down 2.8 percent at $177.79 in late morning trading. Shares fell 3.6 percent on Wednesday after a Wall Street Journal report that China barred the use of Apple smartphones in central government agencies. Tha…

3 months ago·New Delhi, India

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abc News

Apple loses about $200 billion in market capitalization on reports of iPhone restrictions in China

Apple has lost around $200 billion in market capitalization over several days as tensions between the U.S. and China rise, with several media outlets reporting this week that the iPhone maker is being singled out by Beijing

3 months ago·United States

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