AFPEan Apple store in Shanghai
NOS Nieuws•vandaag, 20:22
Apple’s stock market value has fallen by $200 billion after reports that China wants to restrict the use of iPhones by government employees. The share has fallen by more than 6 percent in recent days. It should be noted that the stock market value is still about 2.8 trillion dollars, or 2800 billion dollars. The stock prices of a number of Apple suppliers also fell.
The Wall Street Journal reported on Wednesday that government employees in China are no longer allowed to use iPhones and phones from other foreign brands for their work. Bloomberg news agency reports that the ban also applies to employees of state-owned companies and government institutions. It previously became clear that certain Chinese government officials were already facing restrictions on the use of the popular phone.
18 percent of sales
China is the third most important sales market for Apple, accounting for 18 percent of the tech giant’s turnover. In addition, China is the country where most Apple products are produced.
In Beijing, the Chinese Foreign Ministry kept a low profile. “Products and services from any country are welcome in the Chinese market, provided they comply with Chinese laws and regulations,” a spokeswoman said. There has been no explanation from Apple.
The reports about the restrictions come in the run-up to new iPhone models, which are expected to be presented next week. The Chinese Huawei also recently launched its latest device, which should be able to compete with the iPhone in terms of power and speed.
There are increasing tensions between China and the US over chip technology, among other things. The Americans have imposed tough sanctions on Beijing to prevent the Chinese chip sector from growing too fast. In the Netherlands, new restrictions have been in place since September 1 for the export of chip machines from manufacturer ASML from Veldhoven.
2023-09-08 18:22:36
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