Investors needlessly panic over so-called Chinese iPhone ‘ban’

“News broke on Monday about a ban on iPhone imports and sales in China — and as you’d expect, a chorus of analysts freaked out about it immediately,” Mike Wuerthele reports for AppleInsider. “Cue panic, with the vast majority of freak-outs completely ignoring the fact that Apple isn’t shipping phones with iOS 11, and that the iPhone XR, iPhone XS, and iPhone XS Max weren’t banned in any way.”
Jim Cramer from CNBC interrupted the day’s TV programming on the network at about 1:00 P.M. eastern time, with comments from Apple. In short, Cramer said on the air what AppleInsider said at the time of publication, that the ban was limited to iOS 11, and wouldn’t have any material impact to speak of on Apple. For a short time, Apple stock was in the green in a challenging market,” Wuerthele reports. “However, a fresh round on analyst input on the matter emerged overnight, seemingly unaware that the ‘ban’ wasn’t really one at all, and just an arrow in Qualcomm’s quiver to use against Apple in the ongoing legal skirmishes around the world.”
Read more in the full article here.
MacDailyNews Take: As we wrote when the news of this “ban” broke: “Much ado about nothing.”
SEE ALSO:
Apple denies iPhone import ban in China – December 10, 2018
China ‘bans the import and sale’ of most iPhones, Qualcomm claims; Apple says iPhones still available – December 10, 2018