Apple collapsed on Wall Street because of China: because it lost 200 billion in two days

Apple collapsed on Wall Street because of China: because it lost 200 billion in two days

The Apple empire is shaken after two black days in the stock market. The Cupertino company’s stock lost more than 3% today on Wall Street, after already losing about 4% on Wednesday. Result: According to analyst estimates, the group led by Tim Cook burned 200 billion of capital in two days. The reason for the decline in the stock market was the rumors that spread yesterday from China about the upcoming “iPhone ban”. Certainly not for all dragon citizens, at least for now. But for a notable number (and qualifications) of these. The fatal blow did not come from the Chinese authorities, but for the time being from rumors in the Western business press. The first was Wall Street Journal Yesterday I write that the Beijing government is preparing to ban civil servants from using the iPhone as a work phone. So today Bloomberg Taking things further, he wrote that ban The scope of Beijing’s law will also be expanded to include employees of state-owned companies. It is a nightmare scenario for Apple, considering that the Chinese market, including Hong Kong and Taiwan, alone is worth 18% of its total revenues (just under $400 billion annually). Not to mention China, you remember CNBCIt is also the country where the vast majority of Apple products are assembled. If Beijing’s attack is just the first sign of a new anti-American trade offensive, it will be a real pain for the Cook Group. However, the tension over its shares comes at a time when the Chinese government has not officially announced any measures against Apple, which has so far only been revealed by press leaks.

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