Apple shares have seen a significant drop, losing $200 billion in market value in just two days, due to China's plan to expand the ban on the use of iPhones to government-backed agencies and state companies. This decline is part of a broader selloff sparked by China's economic woes. The ban could also impact other US technology companies that rely on sales and production in China. However, some analysts believe the impact of the ban on Apple will be minimal.
Apple selloff deepens to $200 billion on China iPhone curbs
September 08, 2023
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Apple shares have seen a significant drop, losing $200 billion in market value in just two days, due to China's plan to expand the ban on the use of iPhones to government-backed agencies and state companies. This decline is part of a broader selloff sparked by China's economic woes. The ban could also impact other US technology companies that rely on sales and production in China. However, some analysts believe the impact of the ban on Apple will be minimal.