Investing
Apple stock slips on report China is ramping up iPhone ban efforts
© Reuters. Apple (AAPL) stock slips in aftermarket on report China is ramping up iPhone ban efforts
(Updated – December 18, 2023 4:32 AM EST)
Apple (NASDAQ:) shares fell 0.8% in pre-market Monday after Bloomberg News reported that various Chinese government agencies and state-backed companies are reportedly instructing their employees not to bring Apple iPhones and other foreign devices to work.
This move aligns with China’s long-term goal of reducing reliance on foreign technologies and promoting the use of domestic products.
Several state firms and government departments in multiple provinces have issued directives in the past month or two, encouraging employees to use local brands.
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