Apple's facing a rocky road in China as Beijing restricts iPhone use among government staff, causing Apple's stocks to drop.
Source:
https://www.reuters.com/technology/apple-tumbles-drags-wall-street-lower-fears-grow-over-china-iphone-curbs-2023-09-07/Not even strong ties with China can shield tech giants from growing tensions. The Huawei situation also adds to the complexity, with their new smartphone making progress despite U.S. sanctions. Apple's main chip supplier, Qualcomm, took a hit, and lawmakers from both parties express concerns about China's influence on national security.
This situation could reshape the tech market in China and beyond, potentially impacting Apple's standing. Probably other tech companies with stakes in both countries too. Anyone buying this dip?
Sure, i could buy it if i would be stocking apple. But this isn't really a surprising move from China. I would be totally skeptical using tech from basically hostile country that might have government backdoors that would be exposing sensitive government information.
Especially when
chinese spys steal US sensitive information from governement, if i would be chinese i would totally assume that they were planning to spy with all the possible ways possible. Including backdoors in iphones.