Markets taking note of China’s iPhone ban
<img width="250" height="167" src="https://www.leaprate.com/wp-content/uploads/2023/09/FIN-LP-Markets-taking-note-of-Chinas-iPhone-ban-5127856275iStock-599494684-250×167.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2023/09/FIN-LP-Markets-taking-note-of-Chinas-iPhone-ban-5127856275iStock-599494684-250×167.jpg 250w, https://www.leaprate.com/wp-content/uploads/2023/09/FIN-LP-Markets-taking-note-of-Chinas-iPhone-ban-5127856275iStock-599494684-700×467.jpg 700w, https://www.leaprate.com/wp-content/uploads/2023/09/FIN-LP-Markets-taking-note-of-Chinas-iPhone-ban-5127856275iStock-599494684-768×512.jpg 768w, https://www.leaprate.com/wp-content/uploads/2023/09/FIN-LP-Markets-taking-note-of-Chinas-iPhone-ban-5127856275iStock-599494684-120×80.jpg 120w, https://www.leaprate.com/wp-content/uploads/2023/09/FIN-LP-Markets-taking-note-of-Chinas-iPhone-ban-5127856275iStock-599494684-245×163.jpg 245w, https://www.leaprate.com/wp-content/uploads/2023/09/FIN-LP-Markets-taking-note-of-Chinas-iPhone-ban-5127856275iStock-599494684-500×333.jpg 500w, https://www.leaprate.com/wp-content/uploads/2023/09/FIN-LP-Markets-taking-note-of-Chinas-iPhone-ban-5127856275iStock-599494684.jpg 1254w" sizes="(max-width: 250px) 100vw, 250px" /><p><span data-contrast="auto">The move adds to<a href="https://www.leaprate.com/news/european-commission-lists-tech-giants-as-digital-markets-act-gatekeepers/" target="_blank" rel="noopener"> Apple’s challenges</a> as it directly impacts its biggest non-U.S. market. The Chinese market makes up a sizeable chunk – about 19% – of Apple’s total revenue. Although drastic, it seems, according to an anonymous CNN source, that China has been implementing this policy non-officially since the Covid-19 pandemic and is now making it official in a bid to safeguard sensitive information.</span><span data-ccp-props="{"201341983":0,"335559739":160,"335559740":259}"> </span></p>
<p><span data-contrast="auto">Some speculate that this ban is a reprisal for a similar move by the U.S. Whatever the outcome, these political decisions have a direct impact on the economic welfare of brands with invested Chinese interests.</span><span data-ccp-props="{"201341983":0,"335559739":160,"335559740":259}"> </span></p>
<p><span data-contrast="auto">Apple’s share price dipped by 7%, and the Nasdaq responded with a 1% decrease. As the shares came in below the crucial 100-day moving average, some analysts hailed it as a bearish sign. Companies associated with Apple also experienced price losses. These include Qualcomm Inc. and Micron Technology Inc.</span></p>
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<p><span data-contrast="auto">Additionally, investment giants Tesla Inc. and Nvidia Corp. slid by at least 2%. Americas at Oanda senior market analyst, Edward Moya, stated:</span><span data-ccp-props="{"201341983":0,"335559739":160,"335559740":259}"> </span></p>
<blockquote><p><span data-contrast="auto">The Nasdaq is sinking as one bad Apple spoils a bunch of mega-cap tech stocks. Apple’s growth story is heavily reliant on China, and if the Beijing crackdown intensifies, that could pose a big problem to the bunch of other mega-cap tech companies that rely on China.</span><span data-ccp-props="{"201341983":0,"335559685":720,"335559739":160,"335559740":259}"> </span></p></blockquote>
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