Chinese regulators have released the first list of mobile app stores that are compliant with the new business filing requirements, but tech giant Apple’s (NASDAQ:AAPL) name is missing, according to Reuters.
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A total of 26 app stores have made the necessary filings with the Cyberspace Administration of China (CAC). This development indicates that Chinese authorities have begun implementing new rules that expand government oversight over mobile apps.
This oversight requires mobile app stores to disclose business details to the government, which could potentially lead to the removal of a number of apps. China, the world’s second-largest economy, is a key market for smartphone companies. However, Apple has not yet disclosed how its app store will comply with the new requirements.
China is continuing to tighten its security regulations and is planning to widen the ban on the use of iPhones at state-owned establishments. This could result in limited use of Apple products at various government departments and state-owned entities.
What Is the 12-month Price Target for Apple?
Overall, the Street has a consensus price target of $207.69 on Apple, alongside a Moderate Buy consensus rating. Shares of the company have gained nearly 37.5% so far this year.
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