Following a 4% decrease on Wednesday, Apple shares dropped over 3% on Thursday as a result of numerous stories suggesting that iPhone use by Chinese government employees could be outlawed.
Apple’s devices may become entangled in geopolitical tensions between the United States and China as a result of the rumoured restrictions, which the Chinese government has not made publicly known.
Greater China, which includes Hong Kong and Taiwan, ranks as Apple’s third-largest region and contributed 18% of the company’s $394 billion in revenue. Additionally, it is where the great bulk of Apple products are made. The dominant IT company opted not to comment.