Apple's stock price falls every day after China reportedly notified government officials of ``banning the use of iPhone''

The Chinese government has reportedly ordered government employees to stop using iPhones as part of a campaign to reduce dependence on foreign technology and strengthen cybersecurity.

China Bans iPhone Use for Government Officials at Work - WSJ
https://www.wsj.com/world/china/china-bans-iphone-use-for-government-officials-at-work-635fe2f8

China Plans to Expand iPhone Ban to Some State-Backed Firms, in Blow to Apple - Bloomberg
https://www.bloomberg.com/news/articles/2023-09-07/china-plans-to-expand-iphone-ban-to-some-state-backed-firms-in-blow-to-apple

Apple shares fall after China reportedly bans iPhone use by government officials | Apple | The Guardian
https://www.theguardian.com/technology/2023/sep/07/china-iphone-ban-reports-apple-shares-stocks-fall

According to the Wall Street Journal, an American economic newspaper, employees of central Chinese government organizations have been instructed by their superiors to stop using iPhones in workplace chat groups and meetings. According to anonymous sources, it is unclear how many companies and institutions will ultimately implement a ban on iPhone use, and no formal written injunction has been issued to begin with. It is said that not only employees but also other government organizations and state-owned companies have begun to be instructed not to use iPhones, and the scope of orders prohibiting iPhone use is expected to expand further in the future.

This iPhone ban order is believed to have the purpose of ``reducing dependence on the iPhone, which is a foreign-made smartphone.'' The Chinese government has been aiming to reduce dependence on foreign technology for more than a decade, requiring state-owned enterprises such as banks to switch to domestically produced software and boosting domestic semiconductor chip manufacturing .

For example, Huawei's Mate 60 Pro, which is subject to strict regulations in the United States, is equipped with a processor designed in a 7nm process by SMIC (Semiconductor International Integrated Circuit Manufacturing Co., Ltd.), a Chinese semiconductor foundry.

Huawei's latest smartphone 'Mate 60 Pro' is found to be equipped with a 7nm process 5G chip, has China succeeded in avoiding strict export restrictions led by the United States? - GIGAZINE

However, the Wall Street Journal points out that this is also a campaign by the Chinese government to counter restrictive measures against Huawei and other Chinese companies under the pretext of ``concerns about data leaks.'' Analysts believe that the iPhone ban order may have been issued in advance of Apple's new product announcement event , where the iPhone 15 is expected to be announced at 2:00 pm on September 13, 2023 Japan time. is guessing.

Approximately one-fifth of Apple's sales come from the Chinese market, and it also relies heavily on China for manufacturing processes, so the expansion of the iPhone ban order in China could be a big blow to Apple. Following a series of reports, Apple's stock price fell 3.6% as of September 6, 2023, and further fell 2.9% on the 7th of the same month. In addition, chip manufacturers including Apple's supplier STMicroelectronics are also reported to have seen their stock prices fall.