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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Apple Inc.    AAPL

APPLE INC.

(AAPL)
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China's commerce ministry issues rules on 'unreliable entities' list

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09/19/2020 | 03:35am EDT
The Chinese national flag flies outside a hotel in central Beijing

China's commerce ministry on Saturday issued rules on its proposed list of "unreliable entities," part of an intensifying rift with the United States, saying it will target foreign firms and individuals endangering China's sovereignty and security.

After President Donald Trump's administration imposed additional tariffs on Chinese goods and curbs on Huawei Technologies Co last year, China vowed to draw up a list aimed at punishing foreign firms deemed harmful to Chinese interests.

It has yet to publish the list.

The United States said on Friday it will ban WeChat and video-sharing app TikTok from U.S. stores starting on Sunday night, a move that will block Americans from downloading the Chinese-owned platforms over concerns they pose a national security threat.

China's list will target foreign firms and individuals violating normal market transactions in China, interrupting deals with Chinese firms or taking discriminatory measures against Chinese firms, the ministry said.

In May, state-run tabloid Global Times reported the measures would target such U.S. companies as Apple Inc , Cisco Systems Inc, Qualcomm Inc, while suspending purchases of Boeing Co airplanes.

The ministry said the list will help "safeguard national sovereignty, security and development interests, maintain a fair and free international economic and trade order, and protect the legitimate rights and interests of Chinese enterprises, other organizations or individuals."

Authorities will set up a working mechanism and an office to help implement work related to the list, it added.

China will prohibit foreign firms listed as unreliable entities from engaging in import, export and investment in China, the ministry said.

Foreign firms could be removed from the list if they correct their behaviours and takes steps to eliminate the consequences of their actions, it said.

(Reporting by Cheng Leng and Kevin Yao; Editing by Michael Perry and William Mallard)


Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. 0.01% 115.05 Delayed Quote.56.70%
CISCO SYSTEMS, INC. -2.96% 37.67 Delayed Quote.-19.06%
QUALCOMM INCORPORATED -2.08% 126.2 Delayed Quote.46.07%
THE BOEING COMPANY -3.90% 160.83 Delayed Quote.-48.62%
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Financials (USD)
Sales 2020 273 B - -
Net income 2020 56 844 M - -
Net cash 2020 72 447 M - -
P/E ratio 2020 35,6x
Yield 2020 0,69%
Capitalization 1 968 B 1 968 B -
EV / Sales 2020 6,95x
EV / Sales 2021 6,11x
Nbr of Employees 137 000
Free-Float 99,9%
Chart APPLE INC.
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Technical analysis trends APPLE INC.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 41
Average target price 122,36 $
Last Close Price 115,05 $
Spread / Highest target 30,4%
Spread / Average Target 6,35%
Spread / Lowest Target -38,3%
EPS Revisions
Managers
NameTitle
Timothy Donald Cook Chief Executive Officer & Director
Arthur D. Levinson Chairman
Jeffrey E. Williams Chief Operating Officer
Luca Maestri Chief Financial Officer & Senior Vice President
Kevin M. Lynch Vice President-Technology
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