China’s iPhone ban: Apple is preparing to unveil the iPhone 15 series in the coming days. This situation will directly affect the shares of the company. However, China’s banning foreign brand phones, including iPhone, in public institutions, A loss of up to 200 billion dollars at Apple created.
Apple lost $191 billion in just two days
China thinks foreign technology is leaking data from within the country. The government took action for this and banned the use of smartphones originating in the USA. Thus, Chinese government officials will not keep iPhone devices.
Later, news emerged that these practices would go even further. As a matter of fact, it happened. According to new news, China Mobile, the wireless communication operator of the People’s Republic of China, will not offer the iPhone 15 to its customers.
These situations led to a decline in Apple shares. Shares of the tech giant lost more than 5 percent in the past day. The cost of this situation is 191 billion dollars in two days happened.
The challenges Apple faces come not only from China but also from Europe. The EU thinks that 6 companies, including Apple, have excessive power, leading to monopolization. The European Commission will introduce stricter rules on data use for brands like Apple.
China’s iPhone ban marks a new escalation in the economic war with the United States. Both countries have taken steps to limit the activities of technology companies. Previously, the US banned the Chinese-owned TikTok app from federal government devices.
However, Wall Street analysts think that Apple shares will meet long-term expectations. He states that events such as the iPhone 15 launch will have a positive impact on stock prices.
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