Apple shares fell in the early premarket hours in New York on another report outlining China’s plan to broaden an iPhone ban for certain government departments, state-backed agencies, and firms as the tech war with the US progressively worsens.
Beijing plans to broaden iPhone restrictions to a number of state-owned companies and other government-affiliated entities, according to Bloomberg, citing sources who requested anonymity due to the delicate nature of the topic.
“Beijing intends to extend that restriction far more broadly to a plethora of state-owned enterprises and other government-controlled organizations,” the people said.
The report builds on Wednesday’s Wall Street Journal story of how iPhone “restrictions are the latest step in Beijing’s campaign to reduce reliance on overseas technology.”
Apple shares were down 2.71% at 0625 ET during premarket hours in New York, breaking down below its 100DMA…