Apple stock suffers worst stock decline in a month on CCP iPhone ban

The Chinese Communist Party have barred government staff in China from using Apple’s iPhone and other foreign-branded devices at work, The Wall Street Journal reported Wednesday, citing “people familiar with the matter.” Shares of Apple suffered their worst stock decline in a month as a result.

Apple stock suffers worst stock decline in a month

Bloomberg News:

Staff at “some” central government regulators received instructions via chat groups and in meetings to stop bringing such gadgets into the office, the Journal said. It’s not clear how widely such orders were issued, the newspaper added.

Apple enjoys widespread popularity in China, its largest international market, despite rising resentment of American efforts to contain the Asian country’s technology industry. Its iPhones are among the country’s bestsellers and are common in both the government and private sector.

Foreign devices however have long been discouraged in sensitive agencies, particularly as Beijing in recent years stepped up a campaign to reduce a reliance on technology from the US, China’s geopolitical rival.

MacDailyNews Take: This too shall pass.

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9 Comments

  1. Please refer to the previous article earlier today on this subject, and the associated comments.

    The CCP’s behavior, with its laser focused attack at Apple, Inc specifically, illustrates how mean spirited and vindictive the CCP really is.

    Apple has transferred hundreds of billions of dollars into China and improved so many aspects of millions of citizens’ lives. But that does not count to the elites who subjugate and oppress the masses.

  2. This may have the opposite effect then expected; it could drive iPhone sales in China higher since the government is kinda admitting that they don’t have enough control over the iPhone. Chinese citizens could have one phone for government work and an iPhone for privacy and personal life.

    1. The gov’t is Communist; EVERYBODY works for the gov’t. The 3% ruling elite live like kings just as they did in the former Soviet Union while the masses live in squalor. Yes, the living standard has risen over the past 50 years, but that resulted primarily from IP theft/copying everything without permission and USA corporations shifting production to China which cut their labor costs by 80% yet they still sold the goods here for almost the same original prices. Massive profit increases while manufacturing dwindled in the USA.

    1. Considering that Apple exports most of the phones made in China to the outside world , it shows once again the government of China is willing to sacrifice its own interest to fulfill party ideology. Much like the USA leaving boarders wide open, often government leadership is to ready and willing to take massive collateral damage in name of a brain dead or worse evil agenda. Why shoot you self in the foot when you have so far still to walk.

  3. Could be that the CCP feels further threatened by India surpassing China in total population this year. It appears Apple is coming online in India just in the nick of time or is AAPL luck running out ?

  4. What a bunch of cook ccp boot lickers.

    MDN take is on the money. Yes, this doesn’t mean big loss of revenue in the near term, but the evil awful ccp just turned up the heat in cooking the frog in its hot tub. If you don’t see that, you’re dismissed from the adult’s table.

    China is a communist humanity destroying s’ hole, and apple should have diversified long ago. Apple should make 10% of products in the USA, 20% in Europe. 20% in South America. 15% in Japan and South Korea. And maybe 35% split between china and India.

    Cook failed at business 101. Diversification of markets. Yes Steve hired cook to bring manufacturing to china, but not only bring all its manufacturing eggs into one hostile communist hellhole. And china was far different when jobs pushed for entry there at behest of cook, the biggest operational failure in business history.

    Apple needs a master chef, unfortunately and instead, they have a lousy cook.

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