The world’s largest market capitalization is unstable. On Thursday, Apple’s stock fell by nearly 3%, which amounts to over $200 billion, bringing its total value to $2.776 trillion. This drop is attributed to information initially reported by the Wall Street Journal, stating that China has prohibited the use of iPhones in certain government agencies and state-owned enterprises.
If these measures were confirmed and expanded, they would pose a threat to the sales of the iPhone manufacturer in its largest foreign market as well as its main production center. Over the course of two days, the company’s stock has lost over 6%, returning to its level on August 25th.
According to Wednesday’s Wall Street Journal report, Beijing authorities have prohibited government agency employees from using iPhones for work purposes, or even bringing their Apple smartphones to the workplace. Investors are concerned that these Chinese restrictions may hinder Apple’s revenue prospects.
Apple dépend du marché chinois pour produire et vendre ses iPhone
« I cannot reword »
L’analyste Dan Ives de Wedbush relativise ces craintes. La présence d’iPhone dans les administrations chinoises ne représente qu’une petite part du marché d’Apple en Chine. « Au pire », cela concernerait « 500.000 appareils sur les quelque 45 millions qui vont être vendus en Chine au cours des douze prochains mois », nuance-t-il. En 2022, Pékin a déjà demandé à son administration centrale de changer ses équipements informatiques de marque étrangère pour des ordinateurs « made in China », selon des informations de presse.
This occurs in a context of Western administrations imposing restrictions on Chinese technological products or services. The Biden administration had also implemented new export controls at the end of last year to limit Beijing’s ability to purchase and manufacture high-end chips used in military applications. The White House has not commented on the decision of the Chinese authorities.
