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Apple shares fall after reports of China govt bans

Apple shares continued to fall after reports that Chinese government workers have been banned from using iPhones.

According BBC News, China is Apple’s third-largest market, bringing in 18% of the company’s total revenue in 2022.

Separate reports from the US suggests that central government agency officials and workers at state-owned companies in China have been ordered to not bring iPhones into office or use them for work.

There has been no official statement from the Chinese government in response to the reports.

BBC News reports that tensions between the US and China over technology have been rising steadily, with both parties imposing restrictions.

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