When Apple (AAPL) announces a refresh in its hardware, people might balk at the new, higher pricing. Eventually, needing a device upgrade, they buy the newest iPhone 16.
Apple announced the iPhone 16 will have new camera controls such as visual intelligence, a 48MP “fusion” camera, a 12MP ultrawide lens, and a faster processor. The iPhone 16 Pro and Pro Max will have new AI-powered capabilities. This model will cater to content creators with its 4K video at 120 frames per second.
China’s Huawei tried to steal the show by announcing a trifold phone. The company claimed that this device received over 2.7 million pre-orders. Two days ahead of Apple’s launch event, the firm began to take orders for its Mate XT device. Huawei did not reveal the price of the device, whose sales will officially start on September 20, 2024.
Unfortunately, Apple is losing market share in China. It lost its top-five position in the second quarter (per Canalys). Conversely, Huawei is in fourth place with 10.6 million units shipped.
Your Takeaway
Apple shareholders will know by the end of the year if Berkshire Hathaway (BRK-B) sold AAPL stock too soon. The firm sold 510 million shares, cutting its position by over 55%.
