iPhones Lose WeChat and Cisco Just Makes It 📵

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iPhones Lose WeChat and Cisco Just Makes It

U.S. president Donald Trump’s executive order that banned TikTok got a lot of attention, but the order also banned U.S. companies from doing business with WeChat, and that could be a big deal for Apple.

If iPhones in China are not allowed to download WeChat, Apple’s business in the country would be seriously hurt. WeChat has over a billion worldwide users, and it is the most downloaded app in China. 

The Chinese market is worth about $44 billion a year to Apple, but that could decrease significantly if the company can’t provide its Chinese customers with their most popular app. 

Cisco reported earnings yesterday and the company just about met expectations, but the quarter marked the third in a row with a drop in revenue.

The company’s stock price is about what it was on January 1, and some might think that is quite an accomplishment considering the pandemic. However, the Nasdaq is up about 23% this year as tech stocks have soared. More of our lives have gone online, but Cisco has not been able to capitalize on this the way other tech companies have.

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

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