Apple loses about $200 billion in market capitalization on reports of iPhone restrictions in China

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Apple has lost around $200 billion in market capitalization over several days as tensions between the U.S. and China rise, with several media outlets reporting this week that the iPhone maker is being singled out by Beijing.

Apple didn’t respond to a request for comment.

to impose blocks and regulations on U.S. high-tech investment in China, reflecting the intensifying competition between the world’s two largest economies. Biden seeks to drive home that the United States and its like-minded allies are better economic and security partners than China. A teaser of the livestream for the event, dubbed “Wonderlust,” has been posted on YouTube, revealing no details. Reports are swirling that big changes are in store for the iPhone, including a switch from Apple’s Lightning connector to the USB-C plug that rivals are starting to adopt, partly in response to a European Union mandate.

 

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