Apple Is No Longer World’s Most Valuable Company
Apple’s stock is down roughly 20% for the year and down nearly 10% so far this month.
Photo:
SeongJoon Cho/Bloomberg News…
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Apple’s China Engineers Keep Products Flowing as Covid Shuts Out U.S. Staff
BEIJING—Before the pandemic,
Apple Inc.
AAPL -3.03%
sent hundreds of U.S. engineers each month to China to oversee the contract manufacturers that build most of its products.Now, in a shift, the global technology giant relies more on local engineers. Most U.S.-based Apple engineers have been shut out of China for the past two years by rigid border controls intended to keep the Covid-19 virus at bay. New iPhone models in 2020 were delayed, but since then Apple has largely…
The Tech Industry’s Epic Two-Year Run Sputters
The technology industry, which powered the U.S. economy during the pandemic and grew at tremendous scale during a decade of ultralow interest rates, is confronting one of the most punishing stretches in years.Global powerhouses and fledgling startups are feeling pain from a variety of economic, industry and market factors, spawning postpandemic turbulence in e-commerce, digital advertising, electric vehicles, ride-hailing and other segments. Companies that emerged as job-creating juggernauts in the past two…
EU Accuses Apple of Abusing Mobile-Payment Market Power
European Union antitrust authorities on Monday charged
Apple Inc.
AAPL 0.20%
with abusing its dominant position by restricting access to the technology underpinning contactless payments on its mobile devices, adding to the bloc’s efforts to clamp down on alleged anticompetitive behavior by some of the world’s biggest tech companies.The European Commission, the EU’s executive arm, said it took issue with Apple’s decision to prevent mobile-wallet app developers from…
Apple Suppliers Given Priority for Factory Restarts in Shanghai Region
Suppliers to
Apple Inc.
AAPL -3.66%
are among the businesses taking precedence in local governments’ efforts to restart factories in the Shanghai region as the U.S. tech giant, facing supply constraints, warned that the pandemic’s resurgence in China could dent sales.Covid-19 outbreaks have hit Shanghai and the neighboring provinces of Jiangsu and Zhejiang over the last month—a region with one of the highest concentrations of Apple’s top suppliers, according to the…