Huawei Technologies will launch new handsets and electric vehicles that provide new challenges to both Apple and Tesla, just hours after Apple unveils its AI-enabled iPhone 16.
The Chinese tech giant said Monday that it plans to showcase an "epoch-making product" at the Sept. 10. Huawei will unveil the first smartphone that folds twice, Bloomberg reported, citing a source. The trifold phone would unfold into a tablet-sized screen.
Apple will debut its iPhone 16 on Monday, Sept. 9. It's the first iPhone to have artificial intelligence capabilities. The AI handset is seen as key to reigniting Apple sales growth, notably in China.
Apple iPhone shipments in China fell slightly in Q2 vs. a year earlier, while Huawei's soared 41%, according to research firm Canalys. It was the first time that Chinese handset makers held the top five positions in China, with Huawei and Xiaomi in the lead and Apple slipping to sixth.
Apple stock fell 2.7% to 222.77 on Tuesday, undercutting the 21-day line but finding support at the 50-day. Shares rose nearly 1% to 229 last week, building the right side of V-shaped consolidation with a 273.23 buy point. It's possible that AAPL stock is forging a handle.
Huawei EV Launch
Huawei also is expected to unveil two electric vehicles via its Harmony Intelligent Mobility Alliance. HMIA involves a range of Chinese automaker partners teaming up with Huawei, which provides advanced infotainment and driver-assist capabilities.
The first is the 2025 version of the Aito M9 SUV, which will compete with Li Auto and others. Aito is a Huawei-backed nameplate from Seres. The second should be the Luxheed R7, a Tesla Model Y competitor. Luxheed is a venture between Huawei and Chery.
Tesla faces a growing number of buzz-worthy rivals in China. Xiaomi has a solid hit with its SU7 sedan, taking on the Model 3.
XPeng has launched the Mona M03 sedan that starts at slightly over $16,000, vastly undercutting the Model 3. The EV maker claimed at least 50,000 orders in the first 72 hours for the first EV in its new Mona sub-brand. Mass deliveries start later this month.
Nio will formally launch its Onvo L60 later this month with deliveries starting before September. The L60 is another Model Y rival, which will likely be slightly cheaper than Tesla's main EV.
Tesla China sales were strong in August. TSLA stock, up for much of Tuesday's session, fell 1.6% to 210.60.
Please follow Ed Carson on Threads at @edcarson1971 and X/Twitter at @IBD_ECarson for stock market updates and more.
