Apple shares fall after China reportedly bans iPhone use by government officials | Apple::The move suggests that China, which is one of Apple’s biggest markets, is unwilling to spare any US company in fight to boost homegrown technology
Oh no…Apple is losing money.
#gofundme#apple
Shares dropped 2% on the news that China is hyper nationalist.
In other news, water is wet and you might get soaked in 1mm of rain around midnight tonight. Take an umbrella folks!
The ad says “Privacy. That’s iPhone”.
yeeaaahhh totally
To be fair (and let’s be clear, I hate Apple), they have a pretty good reputation for privacy pro-consumer. I’m sure that’s a business decision, but still.
reputation =! reality
I have a reputation for eating a lot of ass. And also I eat a lot of ass.
I’ll believe it when I feel it.
Apple > google
When it comes to privacy. Though apples foray into ads are a worrying sign.
Apple being better than Google is a low low low bar to clear.
Not that I think Apple is much better OOTB. At the very least Android can be modded to be much better.
Didn’t that start as an attempt at damage control because they forked over user data, just like Google?
Not in China
Eh not in america either, but at least in both places they claim not to right
How come they need so many kanji to say this?
Because privacy isn’t a thing in China. Hard to explain lol
China has so many phone brands they don’t even have to use a US brand. It was surprising it took this long after Huawei and ZTE was banned by Trump back in 2017.
They were using iPhones before? NSA must have had a very easy time lately.
I wish Apple could just buy their shares back privately and be done with the public company schtick. They should be rewarded for alientating insane regimes, #perverseincentives
If the corporation buys back all the stock then who owns Apple?
Ya, my understanding of corporate buyback policies may be slightly insufficient 🙈
This is the best summary I could come up with:
In recent weeks, Chinese officials were given the instructions by their superiors in workplace chat groups or meetings, the Wall Street Journal reported, adding that it wasn’t clear how widely the orders were being distributed.
“Even Apple is not immune … in China where it employs hundreds of thousands, if not more than a million workers, to assemble its products through its relationship with Foxconn,” DA Davidson analyst Tom Forte said.
The ban could trigger concerns among foreign companies operating in China as Sino-US tensions escalate, and comes ahead of an Apple event next week that analysts believe will be about launching a new line of iPhones.
Apple and China’s State Council Information Office, which handles media queries on behalf of the Chinese government, did not immediately respond to Reuters’ requests for comment.
For over a decade, China has been seeking to reduce reliance on foreign technologies, asking state-affiliated firms such as banks to switch to local software and promoting domestic semiconductor chip manufacturing.
The Mate 60’s processor is the first to use SMIC’s most advanced 7 nanometre (nm) technology and suggests the Chinese government is making some headway in attempts to build a domestic chip ecosystem, analysis firm TechInsights said.
The original article contains 486 words, the summary contains 201 words. Saved 59%. I’m a bot and I’m open source!
I mean it’s a drop in the bucket for Apple. They’ll rebound by the end of the week.
Anyone know how to buy apple stocks from outside US as a foreigner?
Use your Country’s stock exchange. Also depends on if they’re doing business in that country too though iirc.
OMFG reposts of reposts of reposts.
I swear to got this will be Lemmys downfall
Apple shares back up today. Not sure what you’re all about, bubby.
Removed by mod
That’s not a necessity through. You might still suck but in a way they don’t like.
They don’t like Falun Gong and that’s just Chinese Scientology complete with the aliens and other crazy shit.
But yeah, most of the time it’s probably a good indicator.
