Apple stock falls after reports of China government's iPhone ban

Shares in Apple have fallen for the second day in a row following reports that Chinese government workers have been banned from using iPhones.

The slump means the tech giant has lost close to $200 billion (AED 7,346,200,000) in the last 48 hours. 

China accounted for 18 per cent of Apple’s total revenue last year making it the company’s third biggest market, and is also where its products are manufactured.

It’s been widely reported that Beijing has ordered government officials not to use or bring iPhones to work, which led to a fall in the company share price.

The iPhone 15 is due for release on September 12.