Apple Inc shares are trading lower amid reports of China expanding its ban on the use of iPhones to government-backed agencies and state companies.
Portfolio Pulse from Benzinga Newsdesk
Apple Inc's shares are trading lower due to reports of China expanding its ban on the use of iPhones to government-backed agencies and state companies.
September 07, 2023 | 12:54 pm
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NEGATIVE IMPACT
Apple's stock price is likely to be negatively impacted in the short term due to China's expanded ban on iPhone use.
China is a significant market for Apple, and the expanded ban on iPhone use by government agencies and state companies could lead to a decrease in sales. This could negatively impact Apple's revenue and, consequently, its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100