Apple Inc's revenue may take a small hit this year from China's recent move to curb the use of iPhones by state employees, Wall Street analysts said on Friday.
revenue may take a small hit this year from China's recent move to curb the use of iPhones by state employees, Wall Street analysts said on Friday.
Morgan Stanley analyst Erik W Woodring said Apple's share losses were "overdone" as he does not believe the curbs will lead to something broader. He added the worst case scenario was a 4% revenue hit and a 3% earning impact for the company. BofA Global Research estimated a headwind of around 5 million to 10 million iPhone units if China were to enforce the ban and added the impact would be higher if the phones get banned from being carried into official workplaces.
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