Apple Share: China did such a trick, Apple became helpless, $ 200 billion sank in two days
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Due to a decree of the Chinese government, the iPhone maker Apple has suffered a big loss. Due to increasing tension between the US and China, the market capitalization of the giant technology company Apple has decreased by about $ 200 billion. This week, several media organizations have also reported the isolation of iPhone maker Apple by China.
Apple’s shares have registered a sharp decline due to the news of the Chinese government preventing its employees from using the iPhone. Its shares have fallen by more than five percent in a week.
China is now reducing its dependence on American technology, said Victoria Skolar, head of investments at UK investment platform Interactive Investor, but this ban is a big challenge for Apple. China is its biggest international market and about 20 percent of its revenue comes from there.
Regarding the ban on the use of the iPhone, Chinese Foreign Ministry spokesman Mao Ning said, “Any country’s products and services are welcome in the Chinese market, as long as they comply with China’s laws and regulations.”
Already simmering tensions between the US and China escalated last month when US President Joe Biden signed an executive order to cap and regulate American high-tech investments in China. Had done This reflects the increasing competition between the world’s two largest economies.
The news of the alleged ban on iPhone has come at a time when Apple is preparing to launch the latest edition of this phone on 12 September. It is expected to launch the iPhone 15 series. Apple does not disclose the number of sales in which country, but experts say that in the last quarter, it sold more iPhones in China than in the US. Not only this, most of Apple’s iPhones are made in China’s factories only.
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