Apple shares fell after reports that China has banned iPhones


Shares of global technology giant Apple Inc.(NASDAQ-AAPL) on Wednesday, September 6, 2023, fell by approximately 4% of its previous price during daily trading, and during Thursday trading on September 7, 2023, the prices of these shares fell further for the second day in row, by almost 3 percent of its previous price. On the trading day of September 7, 2023, these AAPL shares closed the trading session on the NASDAQ stock market at a value of USD 177.56 per share, with a daily decrease of -2.92% of its price. However, this decline only corrects the previously strongly attractive increase in the price of this NASDAQ-AAPL share, which, according to technical analysis data, has recorded its growth by + 36.66% of its price since the beginning of this year 2023. Currently, the price of this AAPL share on the NASDAQ market is in the so-called before the trading phase (pre-market) during the European afternoon of Friday 8/9/2023, before the opening of the main market in the USA at approximately 14:36 CET, it was trading at USD 177.84 per share with an increase of + 0.16% your prices.

Apple Inc. (NASDAQ-AAPL) designs, manufactures and sells smartphones, personal computers, tablets, wearable devices and accessories and sells a range of related services. The company’s products include iPhone, Mac, iPad, AirPods, Apple TV, Apple Watch, Beats products, HomePod, iPod touch and accessories. The company operates various platforms, including the App Store, which allows customers to discover and download applications and digital content such as books, music, video, games and podcasts. Apple Inc. it also offers digital content through subscription-based services, including Apple Arcade, Apple Music, Apple News+, Apple TV+ and Apple Fitness+. Apple Inc. it also offers a number of other services, such as AppleCare, iCloud, Apple Card and Apple Pay. This Apple Inc. also sells its products and resells third-party products in a variety of professional markets, including direct to consumers. In recent years, the key products of this company Apple Inc (NASDAQ-AAPL) have especially been iPhones as devices that combine the function of a mobile phone with a powerful camera along with the possibility of using other multimedia functions to capture and play sound and images. All these functions are then supported by the possibility of connecting to the Internet and the possibility of receiving and sending data through the smart iOS operating system.

According to economic correspondents in connection with analysts of brokerage companies and financial strategists of the stock market, this current decline in the share price of Apple Inc. (NASDAQ-AAPL) was prompted by news that all Chinese government workers may be banned from using Apple Inc.’s iPhones. China has ordered officials at central government agencies not to bring iPhones to the office or use them for work, The Wall Street Journal reported Wednesday, but it was not clear from the Chinese side how broad the bans on the use of Apple Inc’s iPhones were. issued. From a business perspective, China is for Apple Inc. (NASDAQ-AAPL) third-largest market and last year’s 2022 total sales, Chinese take-up accounted for 18% of total 2022 sales. The reported restrictions, which have not been publicly announced by the Chinese government, raise concerns that Apple products Inc. (NASDAQ-AAPL) could get caught up in international tensions between the US and China. It was with these facts in mind that investors and stock market traders reacted in this way, which was reflected in their fears, which then led to a decline in the price of NASDAQ-AAPL shares. However, in the medium-term investment horizon, brokerage firm analysts predict the potential price of this NASDA-AAPL stock at an average price of around $207 per share.