Following reports that Chinese state employees have been prohibited from using iPhones, Apple shares have dropped for the next day in a course.
In the past two days, the company’s stock market valuation has decreased by more than 6 %, or nearly$ 200 billion(£ 160 billion ).
The third-largest market for the technology behemoth, China, accounted for 18 % of its total revenue last year.
Additionally, Foxconn, Apple’s largest dealer, manufactures the majority of its products there.
Beijing had reportedly ordered key government agency employees not to take smartphones into the office or use them for work, according to a Wednesday article in The Wall Street Journal.
The restrictions may also be imposed on employees at state-owned businesses and government-backed organizations, according to Bloomberg News the following morning.
The studies were made prior to the iPhone 15’s anticipated launch on September 12th.
The Taiwanese government has not issued a formal statement in response to the information.
With a rating of close to$ 2.8 trillion, Apple has the highest share business valuation in the world.
A BBC request for comment was never instantly answered by the business.
As Washington and Beijing continue to be at odds, the studies were released.
In order to strengthen its chip manufacturing sector, Beijing is reportedly preparing a new$ 40 billion investment fund.
Chinese technology giant Huawei unannounced its Mate 60 Pro cellphone last week while US Commerce Secretary Gina Raimondo was in Beijing.
TechInsights, a tech study company based in Canada, announced that the phone featured the brand-new 5G Kirin 9000s processor, which was created for Huawei by SMIC, the largest contract chipmaker in China.
It” demonstrates the technological advancement China’s semiconductor business has been able to make ,” according to TechInsights scientist Dan Hutchenson.
According to an investment company Jefferies in a study word, this is” a major tech discovery for China.”
The Commerce Department was urged to further limit exports to Huawei and SMIC by US senator Mike Gallagher, who also serves as the chairman of the House of Representatives commission on China.
