The ban on Chinese officials using the iPhone triggered a collapse in Apple shares

The company could lose more than $200 billion in market capitalization

The ban on Chinese officials using Apple smartphones at work has led to a serious drop in the company’s shares, and it may continue.

The ban on Chinese officials using the iPhone triggered a collapse in Apple’s shares

The shares have already fallen by almost 8% in total, although they have recovered a little in price since the peak. Analysts expect that the Chinese ban will ultimately cost Apple $212 billion in capitalization.

It is worth noting that the ban for Chinese officials applies not only to the iPhone, but in general to all devices of foreign companies, but Apple’s position in China is especially strong, so it hit Apple the hardest. However, the ban applies only to the workplaces of officials – no one forbade them from using iPhones at home.