Some statements from the officials of the Federal Reserve have given the insight that September’s first week has gotten off to a bumpy start for the world markets. This has primarily been so due to the tech wars which of geo-political nature that saw Apple get caught in the fight.
AAPL.O, which is the world’s most valuable company, now has stocks of worth more than thirty six percent. Which leads to this – this year (2023’s) has now recoiled more than six percent since the last Wed. There have been reports since then that China has enforced orders to their government employees on banning iPhones at the workplace.
The total extent of this ban still remains unclear, but has caused irreparable loss to the capitalization of Apple’s market. This is coming in just as China’s telecom company has launched two new smartphone models.
It is expected that the Apple revenues are going to be hit by a total 4% due to China putting a ban on iPhones.
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