Apple‘s shares continue to fall in the US stock market due to China’s decision on iPhones. The market capital of the company fell by 200 billion dollars in 2 days!
A few days ago, China issued orders that government officials and members of state-owned companies should not use iPhones. There are reports that the government is planning to extend this ban to other sectors as well. In this background, Apple stock fell by 4 percent on Wednesday. Thursday, lost 3 percent. As a result, Bloomberg stated that the market value of 200 billion dollars evaporated in 2 days.
Apple is a heavyweight in America’s Nasdaq. As this stock is falling like this, the entire index has a negative impact. Nasdaq is also undergoing extreme ups and downs.
Apple has been focusing on China for a long time. It should be said that an empire has been built there. iPhone sales are especially high in China. If we include China, Hong Kong, and Taiwan, Apple’s revenue here is 394 billion dollars. Such, In the context of the Chinese government’s order not to use iPhones and the uncertainty of what the next steps will be, there are fears in the market that Apple’s income may fall drastically. Market experts say that this is why the stock is falling.
If China bans the use of iPhones, this effect will affect not only Apple but also many US-based tech companies. Especially in China, the income of companies focused on sales and production can be greatly affected. Meanwhile, Apple company has not yet responded to the issue of China’s ban on iPhones.