Apple lost nearly $200B in market capital in matter of days on reports of iPhone restrictions in China

Laffer Tengler Investments CEO and CIO Nancy Tengler joined ‘Mornings with Maria’ to preview next week’s economic data as investors continue to grapple with volatile markets.

Apple lost nearly $200 billion in market capitalization over the past few days amid multiple reports ofOver the last five days, Apple shares slipped almost 5.5% after losing nearly 1% over the last month. Despite the recent drop, shares were up Friday and targeting their largest percent increase since Aug. 30, 2023, when shares rose 1.92%, according to Dow Jones Market Data Group. As of Friday afternoon, Apple regained about $40 billion in market value.

The move was also branded as a way to bolster cybersecurity amid a campaign to curb the flow of sensitive information outside China. Sources also told the newspaper that China has limited iPhone use for years at government jobs, but the new directive widens the ban and signals a greater effort on Beijing's part to enforce the rules.

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Apple loses about $200 billion in market capitalization on reports of iPhone restrictions in ChinaApple 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.
Bron: AP - 🏆 728. / 51 Lees verder »

Apple loses about $200B in market capitalization on China iPhone restriction reportsApple 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
Bron: ABC - 🏆 471. / 51 Lees verder »