Why Apple Stock Is Trading Lower Today
Portfolio Pulse from Ryan Gustafson
Apple Inc.'s shares are trading lower following a report suggesting Huawei is increasing its Mate 60 series smartphone shipment target by 20%. This comes after China's ban on the use of Apple devices for official use and the introduction of Huawei's Mate 60 and Mate 60 Pro smartphones. Apple also showcased the iPhone 15 at its Wonderlust event.
September 12, 2023 | 7:50 pm
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Apple's stock is trading lower due to increased competition from Huawei and regulatory challenges in China.
The increase in Huawei's shipment target indicates strong competition for Apple, especially in the Chinese market. The ban on Apple devices for official use in China further exacerbates this issue, potentially leading to a decrease in Apple's market share and revenues in China. These factors are likely to negatively impact Apple's stock price in the short term.
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