Apple stock falls on reports Chinese govt. banning iPhone use for officials▼

Business

Published 283d ago

<p>Apple (<a data-i13n="cpos:1;pos:1" href="https://finance.yahoo.com/quote/AAPL?p=AAPL&.tsrc=fin-srch">AAPL</a>) shares are falling for a second day following a Bloomberg <a data-i13n="cpos:2;pos:1" href="https://www.bloomberg.com/news/articles/2023-09-07/china-plans-to-expand-iphone-ban-to-some-state-backed-firms-in-blow-to-apple#xj4y7vzkg">report</a> that China could ban some state firms from using iPhones. It follows a similar <a data-i13n="cpos:3;pos:1" href="https://www.wsj.com/world/china/china-bans-iphone-use-for-government-officials-at-work-635fe2f8">report</a> from the Wall Street Journal that the country is banning government officials from using iPhones at work. Yahoo Finance Senior Tech Editor Dan Howley explains that, given how Apple has worked with the Chinese government to satiate some of their security concerns, this seems to almost be more of &quot;a delayed tit for tat for what the U.S. has done to the likes of Huawei and is doing to TikTok.&quot; Howley also explains how Apple is putting more emphasis on India in terms of both manufacturing and an opportunity for growth.</p><p>Howley also highlights the <a data-i13n="cpos:4;pos:1" href="https://finance.yahoo.com/video/eu-targets-six-gatekeepers-under-155539229.html">impending impact</a> of the European Union&#39;s Digital Markets Act, which will disrupt Apple&#39;s App Store model, and affect other tech giants like Meta (<a data-i13n="cpos:5;pos:1" href="https://finance.yahoo.com/quote/META?p=META&.tsrc=fin-srch">META</a>) and Amazon (<a data-i13n="cpos:6;pos:1" href="https://finance.yahoo.com/quote/AMZN?p=AMZN&.tsrc=fin-srch">AMZN</a>).&nbsp;</p> Source