IPhone maker Apple, one of the world’s largest companies, has suffered a major setback from China, whose decision has caused a tremendous decline in Apple’s value, which has caused Apple to lose more than $ 200 billion or more than $ 20,000 crore in just 2 days.
Apple’s stock is currently around $ 178. In the last few days, Apple shares have fallen more than 6 percent. It is currently trading well below its all-time high. Apple’s stock is at an all-time high of $ 198.23. Apple has suffered a loss in the form of mcap due to this decline in shares. Until 2 days ago, Apple was a company worth more than $ 3 trillion i.e. $ 3 trillion. At present, the company’s m-cap has come down to Rs 2.79 lakh crore. In this way, the company has lost more than $ 20,000 crore in just 2 days.
China has imposed this ban
In fact, China has decided to regulate the use of the iPhone. Under this, restrictions have been imposed on the use of iPhone. China has forbidden its government officials from using Apple iPhones. According to the news, China plans to tighten the restrictions imposed on Apple’s iPhone. The Chinese government is also trying to ban employees of its companies from using iPhones.
China is a big market for Apple
This move of China has had a direct impact on Apple’s shares. This effect is also not unnatural. Actually, China is very important for Apple in many ways. China is Apple’s second-largest market after the US and the largest overseas market. China’s consumption is a major contributor to the growth of Apple, especially the iPhone.
China has a major share in manufacturing
On the other hand, China is also the largest base for manufacturing many Apple products, including the iPhone. Apple makes its devices from Foxconn and other contract manufacturing firms like it. Currently, Foxconn is Apple’s largest supplier, whose manufacturing base has long been in China. Apple and its supplier companies are trying to shift manufacturing from China. India has emerged as a better option in this. But China’s share in total manufacturing is still very large, and it is natural that in these circumstances, the restrictions imposed by China are affecting Apple in many ways.
