Apple's stocks dropped by 3.6% after China banned officials from using iPhones and other foreign-branded devices, highlighting China's effort to reduce reliance on American technologies. This ban also includes state-owned telecommunications companies, raising concerns for foreign companies operating in China. China's aim to promote domestic semiconductor chip manufacturing and reduce reliance on foreign technologies is evident in Huawei's new 5G smartphone. The popularity of the iPhone in China is not expected to immediately affect Apple's earnings, but US companies find China increasingly risky for business.