in recent weeks to stop using their Apple mobiles at work.
Apple supplier Qualcomm, one of the US companies with the largest China presence, tumbled 7.2% to lead losses among major tech firms. Wall Street analysts said the curbs show that even a company with a good Chinese relationship and a large presence in the world’s second-largest economy was not immune to rising tensions between China and the US.“This is textbook Chinese Communist Party behavior — promote PRC national champions in telecommunications, and slowly squeeze Western companies’ market access,” Gallagher, a Republican, told Reuters.
China has curbed shipments from prominent US firms including planemaker Boeing and memory chipmaker Micron.