Morgan Stanley analyst Erik W Woodring said Apple's share losses were "overdone" as he does not believe the curbs will lead to something broader. He added the worst case scenario was a 4% revenue hit and a 3% earning impact for the company. Analysts said U.S. sanctions on Huawei, in place since May 2019, hit the company's supply chain, helping Apple increase iPhone shipments to China and grab market share. J.P.Morgan said China's restrictions will make it tougher for Apple to continue to gain market share in China. BofA estimated a $0.11 to $0.34 earnings per share hit to Apple if Huawei was able to gain market share from the iPhone maker.

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Persons: Thomas Peter, Morgan Stanley, Erik W Woodring, Woodring, HWT.UL, J.P.Morgan, Aniruddha Ghosh, Krishna Chandra Organizations: Apple, REUTERS, Wall Street, Beijing, BofA Global Research, Huawei Technologies, Huawei, Thomson Locations: Beijing, China, Bengaluru