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![Apple’s market cap has fallen $200 bn in last two days on China govt iPhone ban Apple’s market cap has fallen $200 bn in last two days on China govt iPhone ban](http://tripurainfoway.com/viewimage.php?src=http://tripurainfoway.com/news_pic/2023/1-1694179434.png&w=567)
New Delhi, Sep 8 : Shares in Apple have fallen for a second day in a row after reports that Chinese government workers have been banned from using iPhones, the media reported.
The firm’s stock market valuation has fallen by more than 6 per cent, or almost $200bn (£160bn), in the last two days, the BBC reported. China is the technology giant’s third-largest market, accounting for 18 per cent of its total revenue last year.
It is also where most of Apple’s products are manufactured by its biggest supplier Foxconn. The Wall Street Journal reported that Beijing had ordered Central government agency officials to not bring iPhones into the office or use them for work.
The following day, Bloomberg News reported that the ban may also be imposed on workers at state-owned companies and government-backed agencies.
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