Apple Incurs $200 Billion Loss in 2 Days

 Apple Suffers $200 Billion Loss Over 48 Hours Amidst China's iPhone Ban

CNN reports Apple's staggering $200 billion losses over just two days, marking it as the Dow Jones Industrial Average's worst-performing company. This dramatic decline, resulting from a 2.9% drop in Apple's stock on Thursday, is a direct response to China's plans to expand its iPhone ban to encompass businesses and government-supported organizations.

According to The Wall Street Journal's Wednesday report, China issued guidelines instructing officials in key government departments to refrain from using Apple iPhones and other foreign-branded devices for work or within their workplaces. This move is part of a broader cybersecurity and reduced reliance on foreign technology initiatives.

Bloomberg later revealed that these bans would also extend to state-owned enterprises and government-supported entities, including major players like PetroChina, a company employing millions.

These bans raise serious concerns for Apple, given China's status as its largest foreign market, contributing approximately 20% of its total revenue in the previous year.