Apple shares are trading lower following a report suggesting Huawei is increasing its Mate 60 series smartphone shipment target by 20%.
Portfolio Pulse from Bill Haddad
Apple's shares are trading lower following a report that Huawei is increasing its Mate 60 series smartphone shipment target by 20%. Apple's stock is down by 1.6%.
September 12, 2023 | 3:04 pm
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NEGATIVE IMPACT
Apple's stock is trading lower due to Huawei's increased shipment target for its Mate 60 series smartphones, which could potentially impact Apple's market share.
The increase in Huawei's shipment target suggests a potential increase in competition for Apple in the smartphone market. This could potentially impact Apple's market share and revenues, leading to the decrease in its stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100