Apple's market value drops by $200 Billion
BUSINESS
By The Anand Market
Apple's Market Woes
Apple's market value drops by $200 billion amid rising U.S.-China tensions. Reports suggest Beijing is targeting Apple.
Image: Google
Stock Price Decline
Apple's stock price fell by 3% on Thursday. For the week, the stock is down over 5%.
Image: Google
iPhone Ban for Chinese Officials
Beijing reportedly bans Chinese state employees from using iPhones.
Image: Google
Wider Ban Scope
Reports indicate that the ban extends to government institutions and state-owned companies.
Image: Google
Economic Impact
China is Apple's largest international market, accounting for about 20% of its revenues.
Image: Google
International Response
Chinese Foreign Ministry spokesperson Mao Ning refrains from directly commenting on the ban, emphasizing compliance with Chinese laws and regulations.
Image: Google
Global Geopolitical Climate
President Joe Biden's recent executive order reflects growing competition between the world's two largest economies.
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