Apple continues to fall after the Chinese coup in the context of the economic war with the US

The actions of Manzana fall second day in a row 3% amid concerns about how the ban iPhone China could impact other segments of the industry USA.

On Wednesday, as reported Ambitthe technology giant’s papers, had already lost 3.6% at US$182.91 and they pressed to the Nasdaq index down (down 1.1%).

This day, the Nasdaq falls 1.3% burdened by Manzanawhich expands its two-day drop to 7%after falling 3% in this Thursday’s session. Stocks broke below the moving average, what is considered a bearish signalfor market analysts.

Likewise, the manzanita giant’s suppliers were also affected. Qualcomm Inc and Micron Technology Inc sinkwhile tech index giants like Tesla and Nvidia they lose about 2.5%.

Apple: takes over the Nasdaq

For the market analyst, Edward Moraquoted by Bloombergthe Nasdaq is “sinking“because poor performance of TOpple spoils the technological advance of megacaps.

The losses at the leading technology company arise from reports that indicate that China has intensified limitations on the use of the iPhone among government officials in one of the most crucial markets for the American company.

According to a previous report by Reuters published the day before, Beijing would have informed the employees of certain central government agencies Chinese in recent weeks that should Refrain from using Apple brand mobile devices during their work.

Apple Vs. Huawei: the Chinese response to the veto?

It’s been almost four years since Huawei, The Chinese telecommunications giant began to be a victim of trade tensions between Washington and Beijing. In 2019, then-US President Donald Trump signed an executive order that prohibited American companies from doing business with Huawei. The measure, which was justified by the alleged risk that the company was spying for the Chinese government, was a severe blow to Huawei, which was forced to look for alternative suppliers and develop its own technologies.

The Biden administration, who took office in January 2021has maintained the policy of Trump towards Huawei. In fact, in May 2023, the US Department of Commerce announced that it would expand the veto of the Chinese company to include fourth generation (4G) chips and technologies, as well as technologies under development such as wifi 7, artificial intelligence and high performance computing.

This decision was a new setback for Huawei, which will no longer be able to import the components it needs to make its smartphones, telecommunications equipment and other products. The Chinese company has warned that the measure could lead to bankruptcy.

The extension of the veto to Huawei It is a new step in the trade war between the US and China. The measure, which was harshly criticized by some European countries, is a hard blow for the Chinese company, which is forced to look for new markets for its products. For this reason, it is considered that China’s measure on the use of the iPhone for Chinese officials would be a counter response to the North American attack against Chinese technology companies.