- Investors are spooked over Beijing banning government officials from using iPhones at work.
- But Wedbush’s Dan Ives says the fears are ‘way overdone’ as the ban could only impact 1% of iPhone sales in China.
- Apple supports 5 million jobs in China. Its major supplier Foxconn is China’s largest private employer.
Fears about Apple’s prospects in China following Beijing’s ban on iPhone use for government officials may be overblown, according to two analysts.
Investors have been worried about the recent development — Apple shares lost about $200 million in value after the Wall Street Journal reported China ordered its central government officials not to use Apple’s iPhone and phones from other foreign brands at work.
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