Concerns about Apple in China hit two other Club stocks. Here's where we stand on all three

  • 📰 CNBC
  • ⏱ Reading Time:
  • 14 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 72%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Club holding Apple (AAPL) isn't in danger of losing its footing, despite a recent market sell-off spurred by reports China is cracking down on iPhone usage.

The Chinese government is moving to bar state employees from using iPhones or other foreign-branded devices at work, The Wall Street Journal reported Wednesday. Bloomberg confirmed the story Thursday, adding that restrictions could be extended to millions more at state-backed firms. Although Beijing has previously enforced restrictions on iPhone usage, the reported new rules signal a more concerted effort to sever China's dependence on Western technology.

Apple opened its 54th flagship store in Greater China in the city of Wuhan in May. The iPhone company warned in late April that supply chain disruptions from China's Covid controls would likely hurt sales in the current quarter by $4 billion to $8 billion.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

WestRock shares rise on potential merger, Apple slides on China concerns, and other movers ThursdayWestRock and Apple are among Thursday's movers
Source: MarketWatch - 🏆 3. / 97 Read more »