JUST

Apple

Security

Billion

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 <p>Tech giant <a rel="noopener noreferrer nofollow" title="Apple" href="https://thebittimes.com/tag/apple.html">Apple</a> has lost $200 billion in market value over the past two days, in part due to China banning its government from using iPhones. Shares of <a rel="noopener noreferrer nofollow" title="Apple" href="https://thebittimes.com/tag/apple.html">Apple</a><strong>&nbsp;</strong>fell by 3.4% on Thursday following the reports from China.</p> 
 <p>It was the largest daily fall in over a month for the company, and <a rel="noopener noreferrer nofollow" title="Apple" href="https://thebittimes.com/tag/apple.html">Apple</a> became one of the worst performers in the Dow Jones Industrial Average. </p> 
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   <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
    <p lang="en" dir="ltr">JUST IN: 🇨🇳 <a rel="noopener noreferrer nofollow" title="Apple" href="https://thebittimes.com/tag/apple.html">Apple</a> lost $200 billion in market value over the past two days after China banned its government from using iPhones.</p> 
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    </div> — Watcher.Guru (@WatcherGuru) September 7, 2023 
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 <p>China is the largest foreign market for <a rel="noopener noreferrer nofollow" title="Apple" href="https://thebittimes.com/tag/apple.html">Apple</a> products. Chinese sales represented about a fifth of the company’s total revenue last year, putting this loss into perspective. The ban comes as China seeks to limit flows of sensitive information outside of China’s borders. Beijing’s move is likely motivated by both national security and economic concerns. This is according to Paul Haenle, a former China director on the National Security Council under former Presidents George W. Bush and Barack Obama.</p> 
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 <p><strong>Also Read: How Many People Use Apple Pay in 2023?</strong></p> 
 <p>Tech companies fell on the news as well. The Nasdaq Composite dropped by about 1% on Thursday and the semiconductor sector fell by more than 2%.</p> 
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  <img decoding="async" width="1024" height="768" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" alt="Tech giant Apple has lost $200 billion in market value over the past two days, in part due to China banning its government from using iPhones" class="wp-image-58310 ewww_webp" sizes="(max-width: 1024px) 100vw, 1024px" data-src-img="https://cdn.thebittimes.com/images/2023/09/08/e4ef06c0ce694130f205f10a8fa30af0.webp" data-src-webp="https://cdn.thebittimes.com/images/2023/09/08/e4ef06c0ce694130f205f10a8fa30af0.webp.webp" data-srcset-webp="https://cdn.thebittimes.com/images/2023/09/08/e4ef06c0ce694130f205f10a8fa30af0.webp.webp 1024w, https://cdn.thebittimes.com/images/2023/09/08/e4ef06c0ce694130f205f10a8fa30af0.webp.webp 300w, https://cdn.thebittimes.com/images/2023/09/08/e4ef06c0ce694130f205f10a8fa30af0.webp.webp 768w, https://cdn.thebittimes.com/images/2023/09/08/e4ef06c0ce694130f205f10a8fa30af0.webp.webp 380w, https://cdn.thebittimes.com/images/2023/09/08/e4ef06c0ce694130f205f10a8fa30af0.webp.webp 550w, https://cdn.thebittimes.com/images/2023/09/08/e4ef06c0ce694130f205f10a8fa30af0.webp.webp 800w, https://cdn.thebittimes.com/images/2023/09/08/e4ef06c0ce694130f205f10a8fa30af0.webp.webp 1160w, https://cdn.thebittimes.com/images/2023/09/08/e4ef06c0ce694130f205f10a8fa30af0.webp.webp 1200w" data-srcset-img="https://cdn.thebittimes.com/images/2023/09/08/e4ef06c0ce694130f205f10a8fa30af0.webp 1024w, https://cdn.thebittimes.com/images/2023/09/08/e4ef06c0ce694130f205f10a8fa30af0.webp 300w, https://cdn.thebittimes.com/images/2023/09/08/e4ef06c0ce694130f205f10a8fa30af0.webp 768w, https://cdn.thebittimes.com/images/2023/09/08/e4ef06c0ce694130f205f10a8fa30af0.webp 380w, https://cdn.thebittimes.com/images/2023/09/08/e4ef06c0ce694130f205f10a8fa30af0.webp 550w, https://cdn.thebittimes.com/images/2023/09/08/e4ef06c0ce694130f205f10a8fa30af0.webp 800w, https://cdn.thebittimes.com/images/2023/09/08/e4ef06c0ce694130f205f10a8fa30af0.webp 1160w, https://cdn.thebittimes.com/images/2023/09/08/e4ef06c0ce694130f205f10a8fa30af0.webp 1200w" data-eio="j"> 
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   <img decoding="async" width="1024" height="768" src="https://cdn.thebittimes.com/images/2023/09/08/e4ef06c0ce694130f205f10a8fa30af0.webp" alt="Tech giant Apple has lost $200 billion in market value over the past two days, in part due to China banning its government from using iPhones" class="wp-image-58310" srcset="https://cdn.thebittimes.com/images/2023/09/08/e4ef06c0ce694130f205f10a8fa30af0.webp 1024w, https://cdn.thebittimes.com/images/2023/09/08/e4ef06c0ce694130f205f10a8fa30af0.webp 300w, https://cdn.thebittimes.com/images/2023/09/08/e4ef06c0ce694130f205f10a8fa30af0.webp 768w, https://cdn.thebittimes.com/images/2023/09/08/e4ef06c0ce694130f205f10a8fa30af0.webp 380w, https://cdn.thebittimes.com/images/2023/09/08/e4ef06c0ce694130f205f10a8fa30af0.webp 550w, https://cdn.thebittimes.com/images/2023/09/08/e4ef06c0ce694130f205f10a8fa30af0.webp 800w, https://cdn.thebittimes.com/images/2023/09/08/e4ef06c0ce694130f205f10a8fa30af0.webp 1160w, https://cdn.thebittimes.com/images/2023/09/08/e4ef06c0ce694130f205f10a8fa30af0.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px"> 
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    Source: Economic Times 
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 <p>With most <a rel="noopener noreferrer nofollow" title="Apple" href="https://thebittimes.com/tag/apple.html">Apple</a> products assembled in China, <a rel="noopener noreferrer nofollow" title="Apple" href="https://thebittimes.com/tag/apple.html">Apple</a> is a source of millions of jobs in the country through its contract manufacturers and suppliers. It is a dominant company in the country, especially in the smartphone market. Therefore, it’s expected that such a ban would execute $200 billion in lost revenue for <a rel="noopener noreferrer nofollow" title="Apple" href="https://thebittimes.com/tag/apple.html">Apple</a>.</p> 
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<div class="cs-entry__tags"> 
 <ul> 
  <li>Apple</li> 
  <li>china</li> 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/apple-lost-200-billion-in-market-value-over-the-past-two-days-tbt61955.html">https://thebittimes.com/apple-lost-200-billion-in-market-value-over-the-past-two-days-tbt61955.html</a></p>

Apple Lost $200 Billion in Market Value over the Past Two Days

TheBitTimes

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