{"id":10273,"date":"2023-09-11T20:30:39","date_gmt":"2023-09-11T20:30:39","guid":{"rendered":"https:\/\/prosfunds.com\/investing\/heres-why-wall-street-may-be-overreacting-about-apples-chinas-challenges\/"},"modified":"2023-09-11T20:30:40","modified_gmt":"2023-09-11T20:30:40","slug":"heres-why-wall-street-may-be-overreacting-about-apples-chinas-challenges","status":"publish","type":"post","link":"https:\/\/prosfunds.com\/?p=10273","title":{"rendered":"Here\u2019s why Wall Street may be overreacting about Apple\u2019s China\u2019s challenges"},"content":{"rendered":"
\n

Apple Inc. shares sold off for the second session in a row Thursday amid swirling concerns about the company\u2019s China business, but some analysts say those fears may be overblown. <\/p>\n

The Wall Street Journal reported earlier this week that China was banning government officials from using iPhones for work purposes, while Bloomberg News reported that the ban could ultimately extend to government-backed agencies and state companies. The question for investors is whether the issue will be limited to state-affiliated employees in work settings or whether it\u2019s indicative of broader challenges in China that might jeopardize revenue. <\/p>\n

\n

Apple\u2019s stock
\n AAPL,
\n +0.66%<\/bg-quote>
\n declined 2.9% Thursday after losing 3.6% in Wednesday\u2019s session.<\/p>\n

See more<\/strong>: Apple\u2019s stock continues decline amid worries about China\u2019s reported ban on government iPhones<\/p>\n

\u201cThe headline is a negative for Apple, but it is not clear how much of an impact this will have as party officials have likely avoided using American products in the workplace for long before the official ban was enacted (i.e. self-banning out of political awareness),\u201d Evercore ISI analyst Amit Daryanani wrote. <\/p>\n

While he could see why Wall Street would be sensitive to China omens, since Greater China accounts for about 19% of Apple\u2019s revenue and \u201cany more meaningful restrictions could hit the bottom line,\u201d he also thinks that situation is \u201cunlikely unless Apple begins moving supply chains out of China at a rate that makes China uncomfortable.\u201d <\/p>\n

Daryanani pointed to a 2019 Apple disclosure saying that the company supported more than 5 million jobs in China, \u201cso it would be difficult for the [Chinese Communist Party] to take a more material action against Apple without impacting Chinese jobs.\u201d <\/p>\n

Don\u2019t miss<\/strong>: Want to buy the iPhone 15 Pro? Be prepared to pay up \u2014 even more than before.<\/p>\n

Wedbush analyst Dan Ives called the recent China concerns \u201cway overdone,\u201d estimating that the issue could impact perhaps 500,000 iPhones of the roughly 45 million that he expects will be sold in the country in the next year. <\/p>\n

\u201cWe believe despite the loud noise Apple has seen massive share gains in [the] China smartphone market,\u201d he wrote. By his math, Apple picked up about 300 basis points of market share in the region over the past 18 months and could see additional traction with the iPhone 15.<\/p>\n

The company is expected to introduce that device at a Tuesday event.<\/p>\n

Read<\/strong>: The iPhone 15 could help Apple clinch a title it\u2019s never held before<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Apple Inc. shares sold off for the second session in a row Thursday amid swirling concerns about the company\u2019s China business, but some analysts say those fears may be overblown. The Wall Street Journal reported earlier this week that China was banning government officials from using iPhones for work purposes, while Bloomberg News reported that […]<\/p>\n","protected":false},"author":1,"featured_media":10274,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[32],"tags":[],"class_list":{"0":"post-10273","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing"},"yoast_head":"\nHere\u2019s why Wall Street may be overreacting about Apple\u2019s China\u2019s challenges | Prosfunds<\/title>\n<meta name=\"description\" content=\"Apple Inc. shares sold off for the second session in a row Thursday amid swirling concerns about the company\u2019s China business, but some analysts say those\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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