Apple's high valuation exposes it to China's whims

A man talks on a phone in front of an Apple logo outside its store, following the coronavirus disease (COVID-19) outbreak in Shanghai, China, November 7, 2022. REUTERS/Aly Song Acquire Licensing Rights NEW YORK, Sept 7 (Reuters Breakingviews) – Apple (AAPL.O) investors are nervous after reports the Chinese government will impose a ban on officials using the $2.8 trillion company's iPhones. The 7% fall in the stock over the past two days looks overblown if current retaliatory measures end here. More draconian clampdowns, however, show a problem, especially given Apple's lofty valuation. Inside China, there has been no public announcement…