Sources: China plans to expand its ban on iPhones in sensitive departments to government agencies and state companies, an unprecedented blockade; AAPL drops 3%+
- Beijing begins by banning the devices from certain bodies — It could deal blow to Apple and amplifies a self-reliance push
Bloomberg
Related Coverage
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Discussion
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@jchengwsj
Jonathan Cheng
on x
Beijing has for years restricted government officials at some agencies from using iPhones for work, but the order has now been widened, the people said. The latest order also signals an intensified effort to ensure its rules are strictly enforced. https://www.wsj.com/...
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@thinking_panda
@thinking_panda
on x
I've read some comments from stupid Westerners - 👍Banning Chinese company made phones for govt officials = good, prevents China from spying on us! 👎China banning US made phones for govt officials = awful! They're probably doing it to spy on them! https://www.wsj.com/...
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@jojjeols
Jojje Olsson
on x
Out of surveillance concerns, or something else? https://www.wsj.com/...
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@divestech
Dan Ives
on x
On the recent China news over the last few days we believe in a worst case scenario any China government agency iPhone ban is way overblown as to quantify its less than ~500k iPhones of roughly 45 million we expect to be sold in China over the next year. iPhone 15 on deck 🍎📱
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@vadimyuryev
Vadim Yuryev
on x
Holy smokes. China bans iPhones for government workers and now considering a braod ban to state companies and other agencies. This is TERRIBLE for Apple's earnings. This will be tough to recover from if it happens. I'm sure Tim Cook will be flying in for all sorts of meetings.
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@carlquintanilla
Carl Quintanilla
on x
2. More B of A: “China accounts for roughly 40-50mn iPhone units for Apple. We estimate up to a 5mn- to 10mn-unit headwind if such a ban were to go though .. We estimate that every 1mn iPhones translates to about a penny in EPS.” $AAPL
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@gurgavin
@gurgavin
on x
GOOD MORNING APPLE SHARES ARE NOW DOWN 7% IN THE LAST 24 HOURS LAST NIGHT CHINA SAID ITS LOOKING TO BRODEN ITS IPHONE BAN $AAPL [image]
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@carlquintanilla
Carl Quintanilla
on x
B of A: “We note that the recent launch and availability of a domestic high-end smartphone as a real alternative to an #iPhone coincides with the timing of this potential [China / Apple] ban ..” $AAPL [image]
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@dancollins2011
Dan Collins
on x
20% of Apple revenues are in China. Get ready to cut that in half. Washington D.C has done it again.
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@dnystedt
Dan Nystedt
on x
Update: China plans to expand a ban on the use of iPhones to government agencies, state-owned companies, and other government controlled entities, Bloomberg reports, as challenges for Apple grow in its biggest foreign market and production base. $AAPL https://www.bloomberg.com/..…
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@macastel3
Marco Castelli
on x
Chinese government wants to ban Apple to reciprocate Huawei ban in US. What they don't realize is: 1) Chinese love Apple / Americans don't care of Huawei 2) Apple employs hundreds of thousands of young Chinese in areas of high unemployment I call it a self boycott 🤦♂️
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@sino_market
@sino_market
on x
Several agencies have begun instructing staff not to bring #iPhone to work, affirming a previous report from the WSJ. #China $AAPL In 2022, Beijing ordered government agencies to replace foreign PCs with domestic alternatives in 2 years https://www.bloomberg.com/...
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@deitaone
@deitaone
on x
APPLE SHARES ADD TO LOSSES IN PREMARKET TRADING, LAST DOWN 3.0% $AAPL
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@dnystedt
Dan Nystedt
on x
Apple shares -3.6% after China banned the use of iPhones for government employees at work, as China steps up security amid US-China tensions, the Wall Street Journal reports, noting it wasn't yet clear how widely the ban has been distributed. $AAPL https://www.wsj.com/...
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@htsfhickey
Fred Hickey
on x
Apple moving production to India puts AAPL at risk of further Chinese govt. retaliation (20% of sales). “Apple has dominated China's market for smartphones priced over $600 in recent years after U.S. sanctions hit rival Huawei's ability to make 5G phones.” https://www.wsj.com/...
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China bans government officials from using iPhones at work