Apple shares fell sharply last week on reports that China is restricting government employees from using iPhones and other Apple devices for work purposes. The reported restrictions in China, which accounts for around 20% of Apple's revenue, have raised concerns among investors about potential damage to the iPhone maker's business ahead of its "Wonderlust" new iPhone launch event on Tuesday.
line Kapulskis also speculated that headwinds emanating from China could act as a catalyst for the sell-off. "In an attempt to quantify the impact on Apple, we arrived at two scenarios," said Kapulskis in a note to clients on Sept. 7. "The first considers the restrictions so far, which affect only China's public employees. We believe the impact on revenues would be modest, at less than 1%.
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