Huawei Chips Away At Apple, Nvidia: Revenue Nears $100B As China Flexes Tech Muscle Despite US Sanctions
Portfolio Pulse from Benzinga Neuro
Huawei Technologies Co. saw a 9% increase in revenue in 2023, nearing $100 billion, driven by its smartphone sector and 5G equipment sales. A significant development was the launch of a smartphone with a 7-nanometer Kirin processor, challenging Apple Inc. and U.S. sanctions. Huawei's Mate 60 Pro is taking market share from Apple's iPhone 15. Nvidia Corp acknowledged Huawei as a competitor in the AI chip market, with Baidu Inc. switching from Nvidia to Huawei's AI chips due to U.S. tech export restrictions.
December 29, 2023 | 5:09 am
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NEGATIVE IMPACT
Huawei's new Kirin processor and Mate 60 Pro smartphone are directly competing with Apple's iPhone 15, potentially affecting Apple's market share and sales.
Huawei's advancements in chip technology and the success of its Mate 60 Pro smartphone could lead to increased competition for Apple, potentially affecting its sales and market share in the short term. The direct mention of market share being taken from the iPhone 15 indicates a negative impact on Apple.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Huawei's emergence as a significant competitor in the AI chip market and Baidu's switch from Nvidia to Huawei's AI chips could impact Nvidia's business and stock price.
Nvidia's acknowledgment of Huawei as a competitor and the loss of Baidu as a client to Huawei's AI chips suggest potential negative impacts on Nvidia's business. The increased competition and loss of a client could adversely affect Nvidia's stock price in the short term.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70