Apple's China Dependency Spooks Investors After Ban
By Aaron Tilley in San Francisco and Yoko Kubota in Beijing. China's move to limit Apple's reach is a development that investors have feared for years, signaling that a once-untouchable partner in the country is now ensnared in rising tensions between the world's two foremost superpowers.For years, Apple has navigated myriad crises in China, including wage disputes, trade tensions and strident Covid-19 lockdowns, often emerging unscathed after a relatively brief period of uncertainty.China's move to ban the use of iPhones by central government employees has spooked some investors, because Beijing's prioritization of national security over economic concerns appears to be reaching Apple."It is something to be concerned about," said Dan Morgan, a senior portfolio manager at Apple investor Synovus Trust. "China has been a growth story for Apple.". Close followers of Apple don't see the government restriction as indicative of an immin