China's iPhone Ban Throws Wrench In Apple Profit Engine: 30M Units At Risk, Bank Of America Warns
Portfolio Pulse from Piero Cingari
China has banned the use of Apple's iPhones and other foreign-branded devices by government officials, which could extend to sensitive departments, government-affiliated entities, and state-owned enterprises. This could result in a substantial headwind of 5 to 10 million units for Apple, significantly impacting the tech giant. Bank of America analysts estimate that for every 1 million iPhones sold, there’s a potential $0.01-per-share impact on Apple’s earnings. If Huawei claws back 10 million units from Apple in China, it could translate into an $0.11 headwind to Apple’s 2024 earnings per share.

September 07, 2023 | 4:16 pm
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China's ban on Apple's iPhones could result in a substantial headwind of 5 to 10 million units for Apple, significantly impacting the tech giant. This could potentially impact Apple's earnings per share.
The ban on Apple's iPhones in China could result in a significant decrease in sales for the company, which could in turn impact its earnings per share. This is particularly concerning given that China constitutes a significant market for Apple, accounting for approximately 20% of the total number of iPhones sold in 2022.
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