Apple lost $200 billion in two days after reports of iPhone ban in China – By Nicole Goodkind (CNN) / Sept 7, 2023
New York – CNN — Shares of Apple fell by 2.9% on Thursday following reports that China plans to expand a ban on the use of iPhones to government-backed agencies and companies.
Investors are fretting over the ability of the world’s most valuable public company to do business in the world’s second-largest economy.
Apple (AAPL) notched its largest daily fall in over a month on Wednesday. The company lost about $200 billion in two days, and its stock is currently the worst performer in the Dow Jones Industrial Average.
The bans could be an ominous sign for Apple.
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