{"id":24550,"date":"2023-09-12T09:51:13","date_gmt":"2023-09-12T01:51:13","guid":{"rendered":"https:\/\/ljdevice.com.tw\/?p=24550\/"},"modified":"2023-09-12T09:51:13","modified_gmt":"2023-09-12T01:51:13","slug":"apples-market-value-tumbled-200-billion-just-2-days-fears-chinese-government-crackdown","status":"publish","type":"post","link":"https:\/\/ljdevice.com.tw\/en\/apples-market-value-tumbled-200-billion-just-2-days-fears-chinese-government-crackdown\/","title":{"rendered":"Apple\u2019s market value has tumbled $200 billion in just 2 days over fears of a Chinese government crackdown"},"content":{"rendered":"<p>September 8, 2023<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-24551\" src=\"https:\/\/ljdevice.com.tw\/wp-content\/uploads\/2023\/09\/2023-09-12_093034-281x200.jpg\" alt=\"\" width=\"281\" height=\"200\" \/><!--more--><\/p>\n<p><a class=\"sc-d73ccddd-0 bSMimr styledLinkColor \" href=\"https:\/\/fortune.com\/company\/apple\/\" target=\"_blank\" rel=\"noopener noreferrer\">Apple<\/a>\u00a0shares tumbled Thursday, on track to wipe out $200 billion of market value in just two days, as China\u00a0<a class=\"sc-d73ccddd-0 bSMimr styledLinkColor \" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-09-07\/china-plans-to-expand-iphone-ban-to-some-state-backed-firms-in-blow-to-apple\" target=\"_blank\" rel=\"noopener noreferrer\">plans<\/a>\u00a0to expand a ban on the use of iPhones to government-backed agencies and state companies.<\/p>\n<div class=\"paywall\">\n<p>Shares of the Cupertino, California-based company fell as much as 5.1%, bringing its two-day slump to 6.8%. Apple is the biggest component in major US equity indexes, adding to a broader selloff sparked in part by a litany of woes in China.<\/p>\n<div class=\"related-video-container\">\n<h3>Related Video<\/h3>\n<hr \/>\n<div class=\"sc-2928c02e-0 hEEgcw\">\n<div class=\"sc-2928c02e-1 irpZcf\"><button class=\"sc-2928c02e-2 fbejFm\" type=\"button\"><\/button><iframe loading=\"lazy\" class=\"sc-2928c02e-4 bAaWei\" title=\"vod-video\" src=\"https:\/\/fortune.com\/videos\/embed\/f96d2008-c6ef-46d7-a36b-909a460c91a2?autoplay=true&amp;adTagUrl=pubads.g.doubleclick.net%2Fgampad%2Fads%3Fiu%3D%2F21809533738%2Ffortune%2Ftech%26description_url%3D%252F2023%252F09%252F07%252Fapple-market-value-200-billion-lost-china-government%252F%26env%3Dvp%26impl%3Ds%26correlator%3D%26tfcd%3D0%26npa%3D0%26gdfp_req%3D1%26output%3Dvast%26sz%3D640x360%26ciu_szs%3D300x250%2C728x90%26unviewed_position_start%3D1%26cust_params%3Dcid%3D3664763%2526topics%3D%2526tags%3DApple%2526ctype%3Darticle%2526premiumCategory%3DF-Wire\" width=\"300\" height=\"150\" frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/div>\n<\/div>\n<\/div>\n<p>The world\u2019s second-biggest economy has been slumping amid a protracted crisis in its real estate market, threatening demand for everything from commodities to consumer electronics. The iPhone maker counts China as its biggest foreign market and global production base.<\/p>\n<p>Adding to Apple\u2019s troubles are rising US Treasury yields as bonds sell off on worries the Federal Reserve will have to step up its fight against inflation as the US economy remains resilient.<\/p>\n<p>The news is having a widespread effect on the markets, with investors selling everything from chips, mega-cap technology to US-listed Chinese stocks.<\/p>\n<p>\u201cThe\u00a0<a class=\"sc-d73ccddd-0 bSMimr styledLinkColor \" href=\"https:\/\/fortune.com\/company\/nasdaq\/\" target=\"_blank\" rel=\"noopener noreferrer\">Nasdaq<\/a>\u00a0is sinking as one bad Apple spoils a bunch of mega-cap tech stocks,\u201d said Edward Moya, senior market analyst at OANDA. \u201cApple\u2019s growth story is heavily reliant on China and if the Beijing crackdown intensifies that could pose a big problem to the bunch of other mega-cap tech companies that rely on China.\u201d<\/p>\n<p>The tech-heavy Nasdaq 100 Index was trading lower by about 1%, meanwhile the Philadelphia Semiconductor Index, which consists of several Apple suppliers, was down 2.5% on Thursday.<\/p>\n<h2 class=\"wp-block-heading\">Interesting Timing<\/h2>\n<p><a class=\"sc-d73ccddd-0 bSMimr styledLinkColor \" href=\"https:\/\/fortune.com\/company\/bank-of-america-corp\/\" target=\"_blank\" rel=\"noopener noreferrer\">Bank of America<\/a>\u00a0Corp. analyst Wamsi Mohan notes that the \u201ctiming of the potential ban is interesting\u201d given the recent launch of Huawei Technologies Co. high-end 5G-capable smartphone.<\/p>\n<div class=\"sc-5f5e13d3-11 jkIBzE\" data-cy=\"instreamAd\"><\/div>\n<p>The teardown of the new device\u00a0<a class=\"sc-d73ccddd-0 bSMimr styledLinkColor \" href=\"https:\/\/www.bloomberg.com\/news\/features\/2023-09-04\/look-inside-huawei-mate-60-pro-phone-powered-by-made-in-china-chip\" target=\"_blank\" rel=\"noopener noreferrer\">shows<\/a>\u00a0that Beijing seems to be making early progress in a nationwide push to circumvent US efforts to contain its ascent, with Huawei\u2019s Mate 60 Pro being powered by Semiconductor Manufacturing International Corp.\u2019s 7nm chips, according to an analysis that TechInsights conducted for Bloomberg News.<\/p>\n<p>If Beijing goes ahead with a ban, the unprecedented blockade might also affect several other US technology companies that rely on sales and production in China. Apple suppliers across continents were trading lower on Thursday as multiple reports confirmed China\u2019s latest changes.<\/p>\n<p>However, bullish analysts like Wedbush Securities\u2019 Daniel Ives think the effect of an \u201ciPhone ban is way overblown\u201d as it would affect less than 500,000 iPhones of the roughly 45 million he expects to be sold in the country over the next 12 months.<\/p>\n<p>\u201cDespite the loud noise Apple has seen massive share gains in China smartphone market,\u201d Ives, who has an overweight rating on the stock, wrote in a note.<\/p>\n<p>Source:<a href=\"https:\/\/fortune.com\/2023\/09\/07\/apple-market-value-200-billion-lost-china-government\/\">Apple&#8217;s market value shed $200 billion in just 2 days | Fortune<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>September 8, 2023<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[609],"tags":[],"class_list":["post-24550","post","type-post","status-publish","format-standard","hentry","category-industrial-news"],"_links":{"self":[{"href":"https:\/\/ljdevice.com.tw\/en\/wp-json\/wp\/v2\/posts\/24550","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ljdevice.com.tw\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ljdevice.com.tw\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ljdevice.com.tw\/en\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/ljdevice.com.tw\/en\/wp-json\/wp\/v2\/comments?post=24550"}],"version-history":[{"count":2,"href":"https:\/\/ljdevice.com.tw\/en\/wp-json\/wp\/v2\/posts\/24550\/revisions"}],"predecessor-version":[{"id":24553,"href":"https:\/\/ljdevice.com.tw\/en\/wp-json\/wp\/v2\/posts\/24550\/revisions\/24553"}],"wp:attachment":[{"href":"https:\/\/ljdevice.com.tw\/en\/wp-json\/wp\/v2\/media?parent=24550"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ljdevice.com.tw\/en\/wp-json\/wp\/v2\/categories?post=24550"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ljdevice.com.tw\/en\/wp-json\/wp\/v2\/tags?post=24550"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}