cross-posted from [email protected]

  • Beijing has imposed restrictions on iPhone use among its government staff, causing Apple’s stock to drop by more than 3%.
  • The move exacerbates already high tensions between the U.S. and China, affecting U.S. tech companies with significant exposure to the Chinese market.
  • U.S. lawmakers from both major parties express national security concerns and urge a tougher stance against Beijing.
  • Apple suppliers like Qualcomm and Broadcom also experience stock declines, leading losses among major tech firms.
  • The restrictions indicate that even companies with good relations with China are not immune to geopolitical tensions.
  • Despite U.S. sanctions on Huawei, Apple faces competitive pressure in China, where it earns nearly a fifth of its revenue.
  • ink@r.nf
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    1 year ago

    “This is textbook Chinese Communist Party behavior - promote PRC (People’s Republic of China) national champions in telecommunications, and slowly squeeze Western companies’ market access,” Gallagher, a Republican, told Reuters

    So US banned Huawei first. Is US communist now?