Market Turmoil: Apple's stock value plummeted by $200 billion this week due to reports of China's ban on government employees using iPhones.

Stock Slide: Apple shares experienced a 3% drop on Thursday and a more than 5% decline for the week, though they showed signs of recovery on Friday.

Year of Growth: Despite the recent setback, Apple's stock had risen by nearly 38% in the year, mainly driven by robust service businesses like Apple Pay and iCloud storage.

China's Ban: Reports suggest that China has ordered government officials not to use iPhones and other foreign-branded phones, posing a significant challenge to Apple, given that China accounts for about 20% of its revenues.

Growing Tensions: Tensions between the U.S. and China have escalated, with the U.S. imposing restrictions on high-tech investment in China, intensifying economic competition

Apple's Next Move: Apple's iPhone 15 launch on September 12 is impending, with expectations of significant changes, including a shift from the Lightning connector to the USB-C plug.

Analyst Perspective: Some analysts believe that China's iPhone restrictions may not significantly impact Apple's sales, estimating only around 500,000 units affected out of an expected 45 million in China over the next year.

Huawei's Challenge: Apple faces competition from Huawei, whose latest Mate 60 Pro smartphone poses a threat due to its power and speed comparable to the iPhone, potentially circumventing U.S. restrictions.

China's Progress: Huawei's success suggests that China may be making progress in overcoming U.S. export controls, particularly on high-tech components, as per analysts at Capital Economics.