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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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