How Worried Should Apple Be As China Extends iPhone Ban For Government Staff? Analyst Says Concerns 'Overblown'
Portfolio Pulse from Rounak Jain
The Chinese government is planning to extend its ban on iPhones from government employees to those working in other state-run agencies and government-controlled organizations. This news comes after Apple Inc.'s shares fell by 2.9% on Thursday and are down 6.2% this week. Despite this, Wedbush Securities’ analyst Dan Ives believes the concerns are overblown, stating that the Chinese consumer continues to want iPhones.
September 08, 2023 | 11:16 am
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Apple's shares fell by 2.9% on Thursday and are down 6.2% this week due to the news of China extending its iPhone ban. However, an analyst believes the impact is overblown.
The news of China extending its iPhone ban has caused a direct impact on Apple's stock prices, leading to a decrease. However, the analyst's opinion that the concerns are overblown could potentially mitigate the negative impact in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100