Shares of Apple fell by 3.4% on Thursday following reports that China plans to expand a ban on the use of iPhones to government-backed agencies and companies.
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Apple lost $200 billion in two days after reports of iPhone ban in China
Headline from KVOA Tucson ·
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Apple loses about $200 billion in market capitalization on reports of iPhone restrictions in China
Shares of Apple fell by 3.4% on Thursday following reports that China plans to expand a ban on the use of iPhones to government-backed agencies and companies.
The reported restrictions, which have not been publicly announced by the Chinese government, raise concerns that Apple’s products could get caught up in international tensions between the U.S. and China.
Apple Inc. shares tumbled in premarket trading Thursday, on track to wipe out $194 billion of market value in just two days, as China plans to expand a ban on the use of iPhones to government-backed agencies and state companies.
Apple has lost nearly $200 billion in market value amid a string of reports citing iPhone curbs for workers in China, according to data collected by Dow Jones Market Data Group.
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.
The shares of several major Apple AAPL.O suppliers fell on Friday, following reports that China had widened curbs on use of iPhones by state employees, fanning fears about sales prospects in one of the…
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Apple lost $200 billion in two days after reports of iPhone ban in China | Since Then