Apple: Apple, one of the world’s largest corporations, has experienced a significant setback. This blow has been delivered to Apple by China, whose decision has resulted in a significant drop in Apple’s valuation. Apple recently lost 200 billion dollars, or more than 20 thousand crore dollars, in just two days. Read on to learn more.
Apple loses $200 billion
Apple’s stock is now trading at roughly $178. Apple’s stock has dropped more than 6% in recent days. It is currently trading significantly below its all-time high. Apple‘s shares have reached an all-time high of $198.23. Apple has experienced a capital loss as a result of the drop in share price. Apple was a firm valued at more than 3 trillion dollars until two days ago. The company’s cap is currently Rs 2.79 lakh crore. In this context, the corporation has lost more than Rs. 20,000 crores in just two days.
China’s Ban on iPhones
China has chosen to restrict the use of the iPhone. This has imposed constraints on the use of the iPhone. China has prohibited its government officials from using Apple iPhones. According to sources, China intends to tighten the limitations on Apple‘s iPhone even further. The Chinese government also wants to forbid its employees from using iPhones.
Last month, US President Joe Biden signed an executive order to restrict and regulate American high-tech investments in China. This illustrates the growing rivalry between the world’s two most powerful economies.