Google has suspended Android license for Huawei, the largest smartphone manufacturer in China. Following this trade war between United States and China, several chip makers like Intel, Qualcomm and others have also blacklisted Huawei.
On one hand, this is said to be a business hit for major suppliers. Apple is also effected with this hit. Apple stock has fallen after the recent trade duo from $180 to $174. According to experts, the situation is not going to cool down anytime sooner.
Chinese consumers may adopt to local substitute to iPhones as Apple may increase prices if a new wave of tariffs hit smartphones.
Stock is off 3% in the morning, With Apple, other suppliers are also effected with this order of barring components sales to Huawei Technologies Co. Ltd.