Tech giant Apple (AAPL) could go head-to-head with Huawei in China. According to a Bloomberg report, the Chinese smartphone company could be gearing up to unveil new products just hours after Apple debuts the iPhone 16, setting the stage for a showdown between the tech giants.
What Is Huawei Planning to Reveal?
Richard Yu, Huawei’s consumer group chief, announced on Weibo that the company will reveal “an epoch-making product” on September 10, a project that took five years of development and investment. This product could be Huawei’s world’s first commercial-ready smartphone, which folds twice, according to Bloomberg.
The company is also planning to launch an Aito electric vehicle, though the final lineup could change.
In China, Huawei is giving tough competition to AAPL. In fact, the company reclaimed its position in the premium smartphone market with the Mate 60 series, powered by a breakthrough chip, pushing Apple out of the top five device makers in the June quarter.
AAPL Plans to Unveil iPhone 16 on September 9
Meanwhile, Apple is launching its new iPhone lineup and accessories on September 9, aiming to convince consumers to upgrade. Furthermore, according to a report from Nikkei, the company plans to use organic light-emitting diode (OLED) displays for all its iPhone models sold in 2025 and later. As a result, AAPL will move away completely from liquid crystal displays (LCDs).
It is important here to note that OLED displays feature self-illuminating pixels, while LCD displays rely on a backlight that shines through liquid crystals to produce an image. This results in OLED displays producing sharper images.
What Is the Future Price of Apple Stock?
Analysts remain cautiously optimistic about AAPL stock, with a Moderate Buy consensus rating based on 24 Buys, nine Holds, and one Sell. Over the past year, AAPL has increased by more than 20%, and the average AAPL price target of $249 implies an upside potential of 8.7% from current levels.
