More than £160billion has been wiped off the value of Apple after China banned government officials from using iPhones at work. On another turbulent session in New York, shares in the US tech giant fell more than 3 per cent, taking losses in two days to 7per cent. ‘American tech companies seeking to cosy up to the CCP must realise the clock is ticking.’China ban: Apple shares fell more than 3%, taking losses in two days to 7%. Shares plunged 26 per cent, or 15.8p, to 45p – taking losses for the year to nearly 70 per cent. With group revenues up by 5.2 per cent to £2.1billion in the 28 weeks to July 16, the company’s shares rose 1 per cent, or 7p, to 687p.

Source: Daily Mail September 08, 2023 14:58 UTC