Apple stock drops as Huawei's Mate XT poses strong competition in China, leading to negative impact. negative

From Nasdaq: 2024-09-10 11:06:40

Apple’s unveiling of the iPhone 16 disappoints investors with delayed AI features and minimal design changes, leading to a 1.7% drop in stock. Huawei’s Mate XT, priced at $2,800, receives over 4 million pre-orders, posing a strong competition to Apple in China. iPhone shipments in China fell by 6.7% in Q2 2024, reflecting Apple’s declining market position.

Apple’s AI features, known as Apple Intelligence, will debut in beta in the U.S. next month. Huawei’s Mate XT, positioned as a high-end competitor, boasts AI-driven functions. Apple refrained from raising iPhone 16 prices to appeal to cautious consumers. Apple faces challenges in China’s regulatory landscape and rising demand for AI features.

The competition between Apple and Huawei intensifies, especially in China, where Huawei’s Mate XT makes a strong comeback. Apple’s delayed AI features and stagnant market share in China highlight the company’s challenges in maintaining dominance. Investors watch closely as both devices launch on September 20, monitoring Apple’s strategy in a competitive market.



Read more at Nasdaq: Apple Stock Slips as Huawei’s Mate XT Takes Aim at Global Market Share