News Formal

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%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

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.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 12. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

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