옵션 체인은 다양한 행사가격과 만기일에 대한 BYD의 주식 옵션 주요 데이터를 보여줍니다. 트레이더들은 이 정보를 사용하여 잠재적 거래를 분석하고 BYD에 대한 시장 심리를 평가합니다..

BYD (OTC:BYDDF) 주식, 옵션 체인

Founded in 1995, BYD is a leading Chinese manufacturer in the design, development, and production of new energy vehicles, or NEVs. In March 2022, the firm discontinued production of internal combustion engine, or ICE, vehicles. Its products primarily target the growing midpriced mass-market segment in China's passenger vehicle market. The company sold about 3 million passenger NEVs in 2023, accounting for 33% of the Chinese passenger NEV market. Besides automobile production, the company is also engaged in handset components and assembly services, as well as the rechargeable battery and photovoltaics business. After more than 25 years of development, the company has established over 30 industrial parks worldwide.

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중국 전기차(EV) 대기업인 BYD(OTC:BYDDY) (OTC:BYDDF)가 일요일에 발표한 바에 따르면, 이 회사는 플러그인 하이브리드 승용차 판매가 크게 증가한 덕분 11월에 506,804대의 신에너지 승용차를 판매하여 지난해 같은 기간 대비 거의 68% 증가했다고 한다. 

테슬라의 경쟁사 BYD, 플러그인 하이브리드 EV의 인기로 11월 판매량 68% 성장 달성

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중국의 거대 전기차(EV) 기업인 비야디(BYD)(OTC:BYDDY)는 수년 전 한국내 상용차 부문에 성공적으로 진출한 데 이어 내년에도 한국 승용차 시장에서 입지를 확대할 예정인 것으로 알려졌다.

BYD가 2025년 한국 시장에 진입하여 테슬라 모델 3과 현대 아이오닉 6에 도전: 보도

중국의 전기차 거인인 BYD(OTC:BYDDY) (OTC:BYDDF)는 8월부터 10월까지 차량 및 부품 제조를 위해 20만 명 이상의 인력을 고용하고, 신에너지 차량 생산을 거의 20만 대 늘렸다고 회사의 부회장인 허즈치(He Zhiqi)가 웨이보를 통해 발표했다.

테슬라 경쟁사 BYD, 전기차 생산 가속화를 위해 3개월간 20만명 이상의 직원 채용

BYD Co Ltd

In the <a href="https://www.benzinga.com/electric-vehicles">electric vehicle (EV) battle</a>, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and BYD Co Ltd (OTCPK: BYDDF) (OTCPK: BYDDY) are two titans vying for dominance. Tesla dominates the premium EV space with its technological prowess and global brand appeal, while BYD, a Chinese heavyweight, is reshaping the mid-tier and budget markets with its diversified lineup and affordability.
With Tesla riding a wave of bullish momentum and BYD facing near-term headwinds, how do these EV giants stack up against each other in the battle for supremacy?
<h1 class="wp-block-heading">Tesla vs. BYD: The Innovation Race</h1>
Tesla is known for its innovation and global leadership in the premium EV market. CEO Elon Musk's company continues to expand its production capacity and maintain a commanding presence, particularly in North America and Europe.
Meanwhile, BYD, often referred to as Tesla's Chinese counterpart, benefits from strong government backing and a broader product range, including electric buses and plug-in hybrids. 
While Tesla emphasizes a technology-first strategy, BYD's competitive edge lies in affordability and its deep integration into China's robust green energy ecosystem.
<h1 class="wp-block-heading">Tesla Stock&#8217;s Bullish Surge: A Market Leader On The Move</h1>
Tesla stock is charging forward, fueled by both solid fundamentals and strong technicals. Over the past year, Tesla stock has surged by 51.58%, a staggering 102.56% over the past six months, and 47.05% over the past month.
This growth isn't just a fluke; it's supported by Tesla&#8217;s dominant position in the EV market, its continual innovation, and an expanding global presence.
<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent120324&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="628" height="490" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/03094048/Screenshot-2024-12-03-at-8.09.55-PM.png" alt="" class="wp-image-674657" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/03094048/Screenshot-2024-12-03-at-8.09.55-PM.png 628w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/03094048/Screenshot-2024-12-03-at-8.09.55-PM-300x234.png 300w" sizes="(max-width: 628px) 100vw, 628px" /></a></figure>
<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent120324&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>
From a technical standpoint, TSLA stock is in clear bullish territory, with the stock price comfortably above its five-, 20- and 50-day EMA (exponential moving averages). The current trend points to continued upside, with key indicators such as the eight-day SMA (simple moving average) ($344.68), 20-day SMA ($329.15) and 50-day SMA ($277.09) signaling strong momentum.
Even the 200-day SMA ($216.38) is supporting a bullish outlook, solidifying Tesla's position as a market leader.
Read Also: <a href="https://www.benzinga.com/24/12/42285783/tesla-bear-craig-irwin-turns-bullish-increases-price-target-from-85-to-380">Tesla Bear Craig Irwin Turns Bullish On EV Giant, Increases Price Target By 347%: &#8216;There Are Abundant Positive Catalysts&#8217;</a>
<h1 class="wp-block-heading">BYD's Stock Struggles: Is A Rebound In The Cards?</h1>
On the flip side, BYD has had a more challenging few months. The stock has dropped by 8.65% in the last month, despite a 25.79% gain over the past year. 
<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent120324&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="628" height="490" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/03094105/Screenshot-2024-12-03-at-8.10.28-PM.png" alt="" class="wp-image-674658" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/03094105/Screenshot-2024-12-03-at-8.10.28-PM.png 628w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/03094105/Screenshot-2024-12-03-at-8.10.28-PM-300x234.png 300w" sizes="(max-width: 628px) 100vw, 628px" /></a></figure>
<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent120324&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>
Technically, BYD is in bearish territory, with the stock trading below its five, 20 and 50-day EMA. However, there's some buying pressure building, particularly with the eight-day SMA ($33.42) signaling a bullish shift. There&#8217;s buying pressure from near-term levels suggesting potential for recovery.
With BYD's plans to ramp up exports and enter new markets, the company is positioning itself to challenge Tesla on a broader scale. BYD remains a formidable player in the global EV market, with strong backing from China's green energy initiatives. Investors will be keeping a close eye on whether the company can regain its momentum and spark a reversal.
Tesla's premium play and BYD's mass-market focus paint a compelling picture of the EV landscape. While Tesla leads in innovation, BYD's affordability could make it a formidable contender in the long run. The EV battle between these two is just heating up — who will win the race?
Read Next: 
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<li><a href="https://www.benzinga.com/news/global/24/12/42284511/tesla-china-sees-robust-demand-in-q4-with-registrations-up-14-2-yoy-so-far-expert-says-ev-giant-on-track-for-best-quarter-ever">Tesla China Sees Robust Demand In Q4, With Registrations Up 14.2% YoY So Far: Expert Says EV Giant On Track For &#8216;Best Quarter Ever&#8217;</a></li>
</ul>
Photo: Tesla, courtesy Tesla Inc; BYD via Shutterstock

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Tesla Vs. BYD: The EV Duel Heats Up

China&#8217;s BYD Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>), Tesla Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) biggest electric vehicle rival, has quietly become a major force in Apple Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) manufacturing ecosystem, now assembling more than 30% of iPads while planning an ambitious artificial intelligence venture with Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>).
What Happened: The Shenzhen-based company, which <a href="https://www.benzinga.com/news/24/10/41647639/teslas-chinese-rival-byd-outshines-elon-musks-ev-giant-in-quarterly-revenue-for-first-time-since-202">surpassed Tesla in quarterly revenue</a> for the first time with $28 billion versus Tesla&#8217;s $25 billion in the third quarter of 2024, has dedicated approximately 100,000 employees to Apple&#8217;s supply chain, <a href="https://www.wsj.com/tech/building-apple-products-has-become-a-side-hustle-for-chinas-biggest-ev-maker-f26e251c?ref=biztoc.com">reported</a> The Wall Street Journal.
This partnership, which began around 2009, has evolved from basic component processing to crucial assembly operations.
Apple CEO Tim Cook acknowledged the significance of Chinese manufacturers during his November Beijing visit, his third this year, stating, &#8220;We could not do what we do without them.&#8221; The relationship has deepened despite U.S. efforts to reduce dependency on Chinese manufacturing.
Beyond iPad assembly, BYD has secured critical roles in iPhone production, including manufacturing titanium frames for the latest Pro models. 
The company&#8217;s precision manufacturing capabilities extend to both automotive and consumer electronics, with BYD Chairman Wang Chuanfu leveraging this dual expertise to forge partnerships with other tech giants like Xiaomi and Huawei.
See Also: <a href="https://www.benzinga.com/media/24/12/42259023/apple-partnership-ai-agents-and-major-infrastructure-investments-openai-executives-outline-strategy-to-attract-1b-users-by-2025">Apple Partnership, AI Agents, And Major Infrastructure Investments: OpenAI Executives Outline Strategy To Attract 1B Users By 2025</a>
Why It Matters: The company&#8217;s automotive division continues to show strong growth, with November 2024 sales reaching 506,804 new energy vehicles, <a href="https://www.benzinga.com/24/12/42259569/chinese-ev-behemoth-and-tesla-rival-byd-marks-68-growth-in-november-sales-on-rising-popularity-of-plug-in-hybrid-evs">a 68% year-over-year increase</a>. This success in both sectors has positioned BYD for its next venture: developing AI-powered manufacturing robots in collaboration with Nvidia.
Previously undisclosed details reveal that BYD and Apple&#8217;s <a href="https://www.benzinga.com/news/24/10/41372383/apple-had-a-hush-hush-relationship-with-teslas-chinese-rival-byd-for-now-abandoned-car-plans-cuperti">relationship included a secretive partnership</a> starting in 2017 to develop long-range electric vehicle batteries, though Apple has since abandoned its automotive ambitions. The collaboration influenced BYD&#8217;s current Blade battery system, now used across its entire vehicle lineup.
Warren Buffett&#8216;s Berkshire Hathaway, an early BYD investor since 2008, has witnessed the company&#8217;s transformation from a battery manufacturer to a <a href="https://www.benzinga.com/news/24/10/41372383/apple-had-a-hush-hush-relationship-with-teslas-chinese-rival-byd-for-now-abandoned-car-plans-cuperti">global technology powerhouse</a> straddling both the automotive and consumer electronics sectors.
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</ul>
Image Via Shuttesrtock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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BYD Surpassed Tesla In Quarterly Revenue For The First Time In Q3. It Assembles Over 30% Of iPads For Apple, And Is Now Planning To Build AI Robots For Nvidia

Chinese EV giant BYD Co Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) said on Sunday that the company sold 506,804 new energy passenger vehicles in November, marking a jump of nearly 68% from last year, thanks to a major jump in plug-in hybrid passenger vehicle sales.
What Happened:&nbsp;Pure passenger EV (battery electric vehicle) sales of the Chinese player rose to 198,065 in November, marking a rise of 16.4% from the corresponding month of last year.
Plug-in hybrid passenger vehicle sales in the period rose 133% to 305,938 units.
The company also sold 2,801 commercial vehicles in November, including 449 buses.
Why It Matters: BYD is the biggest rival to American EV giant Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>). The company <a href="https://www.benzinga.com/news/24/01/36839203/warren-buffett-backed-byd-sees-higher-profits-for-fy23-after-taking-over-tesla-as-biggest-ev-seller" target="_blank" rel="noreferrer noopener">took over Tesla</a> as the world&#8217;s largest BEV seller in the fourth quarter of 2023. However, Tesla took back the crown in the first quarter of 2024 and has been holding on to it since.
For the third quarter between July and September, BYD&#8217;s operating revenue rose 24% to&nbsp;<a href="https://www.benzinga.com/news/24/10/41647639/teslas-chinese-rival-byd-outshines-elon-musks-ev-giant-in-quarterly-revenue-for-first-time-since-202" target="_blank" rel="noreferrer noopener">201.12 billion yuan ($28.25 billion)</a>, the company said in a filing.
Tesla, meanwhile,&nbsp;<a href="https://www.benzinga.com/news/earnings/24/10/41501607/tesla-q3-earnings-highlights-eps-beat-revenue-miss-shares-climb-on-2025-timeline-for-lower-cost-evs" target="_blank" rel="noreferrer noopener">reported a total revenue</a>&nbsp;of only $25.18 billion in the same quarter, making it the first time since 2022 that BYD has trumped&nbsp;Elon Musk's&nbsp;EV giant in quarterly revenue. BYD stopped making combustion engine vehicles in March 2022 to focus on electric vehicles.<a href="https://www.benzinga.com/quote/tsla" target="_blank" rel="noreferrer noopener"></a>
Despite reporting higher revenue than Tesla in the third quarter, BYD's net profit continued to trail behind<a href="https://www.benzinga.com/news/earnings/24/10/41501607/tesla-q3-earnings-highlights-eps-beat-revenue-miss-shares-climb-on-2025-timeline-for-lower-cost-evs" target="_blank" rel="noreferrer noopener">&nbsp;Tesla's net income of $2.167 billion</a>. The company reported a diluted earnings per share of 4 yuan (56 cents) for the quarter, lower than Tesla's adjusted earnings per share of 72 cents. Tesla, however, makes only battery electric vehicles, unlike BYD which also manufactures plug-in hybrids. 
BYD Executive Vice President&nbsp;He Zhiqi&nbsp;<a href="https://www.benzinga.com/news/24/11/41706373/tesla-rival-byd-hired-over-200k-employees-in-3-months-to-speed-up-ev-production">said on Weibo</a> in November that the company hired over 200,000 people from August to October&nbsp;for car and components manufacturing and increased production by nearly 200,000 vehicles.
In November alone, the company made 540,588 new energy vehicles as compared to 316,510 in the corresponding month of 2023. 
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
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Photo courtesy: Shutterstock

Tesla Rival BYD Marks 68% Growth In November Sales Driven By Popularity Of Plug-In Hybrid EVs

Amid rising tensions over trade policies, Mexico faces a dilemma regarding a potential investment from Chinese electric vehicle manufacturer&nbsp;BYD (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>). This comes as President-elect&nbsp;Donald Trump&nbsp;<a href="https://www.benzinga.com/24/11/42178994/trump-says-he-will-impose-25-tariffs-on-canada-mexico-on-first-day-of-office-and-extra-tariffs-on-china-until-they-pay-attention">plans&nbsp;to impose a 25%</a> tariff&nbsp;on Mexican goods, raising concerns about the implications of hosting a Chinese EV factory.
What Happened: BYD is in the final stages of planning a new factory in Mexico. The company is negotiating with Mexican state officials to establish the&nbsp;factory near one of the&nbsp;country&#8217;s&nbsp;automotive hubs in central or&nbsp;northern Mexico. However, Trump&#8217;s tariff threats have complicated these plans. 
Mexico, a significant car manufacturing hub, typically welcomes foreign investment for job creation. Yet, officials are wary that a BYD plant might signal to Trump that Mexico is facilitating Chinese companies&#8217; access to the U.S. market, Wall Street Journal <a href="https://www.wsj.com/business/autos/mexico-gets-cold-feet-over-new-chinese-ev-plant-after-trump-win-3b92f1c3">reported</a> on Tuesday.
"At this time, investments from China have to be analyzed with extreme caution," said Eduardo Solís, the former president of the Mexican Association of the Automotive Industry.
"Mexico has to present itself with a business card that says: reliable partner of North America."
See Also:&nbsp;<a href="https://www.benzinga.com/trading-ideas/movers/24/11/42119433/sharkninja-a-china-hustle-based-on-rampant-looting-short-report?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">SharkNinja A &#8216;China Hustle Based On Rampant Looting&#8217;: Short Report</a>
Trump&#8217;s tariff threat is part of broader issues, including immigration and fentanyl smuggling. Mexico is working to assure the U.S. and Canada that it is not a conduit for Chinese goods as talks on the U.S.-Mexico-Canada Agreement are set to begin next year. Eduardo Solís, a former leader of Mexico's automotive industry association, emphasized the need for caution with Chinese investments, stating Mexico must present itself as a reliable North American partner.
Why It Matters: BYD&nbsp;had previously <a href="https://www.benzinga.com/markets/equities/24/09/40693961/chinas-ev-giant-byd-reportedly-delays-mexico-move-eyes-us-election-results-before-big-investment">delayed its investment</a> in Mexico, awaiting the outcome of the U.S. election. The company aims to sell 100,000 electric vehicles in Mexico by 2025, despite potential tariff challenges.&nbsp;BYD&nbsp;plans to reveal the location of its first Mexican factory by <a href="https://www.benzinga.com/news/24/10/41246093/byd-targets-100k-ev-sales-in-mexico-by-2025-as-trump-vows-200-tariffs-on-chinese-made-cars-in-north">the end of the year</a>, with an initial production capacity of 150,000 vehicles.
Trump&#8217;s proposed tariffs are part of a broader strategy to address border issues and drug smuggling, with additional tariffs on Chinese imports until these issues are resolved. 
Read Next:&nbsp;
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Shutterstock

Amid Trump's Plans To Impose 25% Tariffs, Mexico Fears BYD New Factory In Country Would Send Wrong Message: 'Investments From China Have To Be Analyzed With Extreme Caution'

Chinese EV giant BYD Co Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) has made nearly a million new energy vehicles in less than two months, the company said in a post on social media X on Monday.
What Happened: &#8220;BYD celebrated its 30th anniversary with the roll-off of its 10 millionth NEV, marking a significant milestone in sustainable automotive innovation,&#8221; the company wrote. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">BYD celebrated its 30th anniversary with the roll-off of its 10 millionth NEV, marking a significant milestone in sustainable automotive innovation. Chairman and President Mr. Wang Chuanfu reflected on BYD&#39;s journey and commitment to technological advancement, emphasizing its… <a href="https://t.co/4PvXF8Tare">pic.twitter.com/4PvXF8Tare</a>
&mdash; BYD (@BYDCompany) <a href="https://twitter.com/BYDCompany/status/1858653768256286910?ref_src=twsrc%5Etfw">November 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
NEV or new energy vehicles refers to both battery electric vehicles and plug-in hybrid vehicles. 
BYD made its <a href="https://www.benzinga.com/news/24/09/41043074/byd-makes-a-red-yangwang-u9-supercar-for-its-9-millionth-new-energy-vehicle">nine millionth NEV</a> &#8211; a red Yangwang U9 &#8211; in late September, implying that the company made nearly a million vehicles in less than two months.
BYD Executive Vice President&nbsp;He Zhiqi&nbsp;said on Weibo earlier this month that the company hired over 200,000 people from August to October&nbsp;for car and components manufacturing and increased production by nearly 200,000 vehicles.
According to BYD, the company made over 1.3 million NEVs in the three months from August to October, compared to nearly 900,000 units that it manufactured in the corresponding period of last year.
Why It Matters: For the third quarter between July and September, BYD&#8217;s operating revenue rose 24% to&nbsp;<a href="https://www.benzinga.com/news/24/10/41647639/teslas-chinese-rival-byd-outshines-elon-musks-ev-giant-in-quarterly-revenue-for-first-time-since-202" target="_blank" rel="noreferrer noopener">201.12 billion yuan ($28.25 billion)</a>, the company said in a filing late last month.
BYD's American rival&nbsp;Tesla Inc.&nbsp;<a href="https://www.benzinga.com/news/earnings/24/10/41501607/tesla-q3-earnings-highlights-eps-beat-revenue-miss-shares-climb-on-2025-timeline-for-lower-cost-evs" target="_blank" rel="noreferrer noopener">reported a total revenue</a>&nbsp;of only $25.18 billion in the same quarter, making it the first time since 2022 that BYD has trumped&nbsp;Elon Musk's&nbsp;EV giant in quarterly revenue. BYD stopped making combustion engine vehicles in March 2022 to focus on electric vehicles.<a href="https://www.benzinga.com/quote/tsla" target="_blank" rel="noreferrer noopener"></a>
Despite reporting higher revenue than Tesla in the third quarter, BYD's net profit continued to trail behind <a href="https://www.benzinga.com/news/earnings/24/10/41501607/tesla-q3-earnings-highlights-eps-beat-revenue-miss-shares-climb-on-2025-timeline-for-lower-cost-evs" target="_blank" rel="noreferrer noopener">Tesla's net income of $2.167 billion</a>. The company reported a diluted earnings per share of 4 yuan (56 cents) for the quarter, lower than Tesla's adjusted earnings per share of 72 cents.
BYD has sold over 3.25 million vehicles since the start of this year as of the end of October, marking a growth of about 36% from the corresponding period last year. In October alone, the company sold over half a million vehicles, marking a jump of about 36% from October 2023.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
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Photo courtesy: Shutterstock

BYD Makes A Million NEVs In Less Than 2 Months After Beating Tesla For The First Time Since 2022 In Quarterly Revenue

<ul>
<li>Singing Machine will be launching a globally available in-car karaoke microphone, designed to fully integrate with Stingray Karaoke app and BYD's infotainment system in its vehicles. The first-of-its-kind partnership will have enhanced karaoke features and proprietary technology that allows for unique vocal enhancements such as vocal effects and live pitch-detection for karaoke scoring.</li>
<li>Singing Machine's new microphones, co-developed with BYD Automotive Product Strategy and the New Technology Research Institute, will be manufactured by BYD Electronics and are set to debut during Black Friday events in Brazil and Christmas events in Europe. Starting in early 2025, this feature will be available in an expanding range of BYD vehicles worldwide. Consumers may check with their local dealerships for availability updates.</li>
</ul>

Contracts

RIME

Algorhythm's Subsidiary, Singing Machine Has Entered Into A Strategic Partnership Deal With BYD And Stingray, Starting In Early 2025, This Feature Will Be Available In An Expanding Range Of BYD Vehicles Worldwide

BYD Co., Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>), the Chinese electric vehicle (EV) giant, is reportedly set to expand its footprint in South Korea&#8217;s passenger car market next year, following its successful <a target="_blank" href="https://www.benzinga.com/news/24/11/41706373/tesla-rival-byd-hired-over-200k-employees-in-3-months-to-speed-up-ev-production" rel="noreferrer noopener">entry into the local commercial vehicle sector years ago.</a>
The company&#8217;s South Korean subsidiary, BYD Korea, has completed its preparations to launch passenger car models in the domestic market, with an expected rollout scheduled for early 2025, <a target="_blank" href="https://cnevpost.com/2024/11/13/byd-south-korean-passenger-car-market-2025/" rel="noreferrer noopener">reported</a> CnEV Post.
Per a <a target="_blank" href="https://www.teslarati.com/byd-south-korea-auto-market/" rel="noreferrer noopener">report</a> by Teslarati, BYD joined the South Korean market in 2016 with commercial vehicles like buses, forklifts, and trucks. The BYD Seal model is reportedly set to rival the Tesla Model 3 and Hyundai IONIQ 6 in South Korea, two dominant players in the market.
This move comes as BYD continues to make waves in the global automotive industry.
Despite not manufacturing traditional combustion engine vehicles, the company has been rapidly closing in on Ford Motor&#8217;s global sales, with its EV-focused model gaining significant market share.
Also Read: <a target="_blank" href="https://www.benzinga.com/24/11/41874691/chinese-ev-maker-byd-is-now-closing-in-on-fords-global-sales-volume-after-beating-tesla-in-revenue" rel="noreferrer noopener">Chinese EV Maker BYD Edges Closer To Ford&#8217;s Sales Volume After Beating Tesla In Revenue Race</a>
As of October 2024, BYD has sold over 3.25 million vehicles, marking a 36% year-on-year increase. In October alone, the company surpassed half a million units sold, showing impressive growth from the same period in 2023.
If this growth trajectory continues through the end of the year, BYD&#8217;s 2024 sales could exceed 4 million vehicles, positioning the company to potentially surpass Ford, which sold 4.4 million vehicles globally in 2023.
Turning to its South Korean expansion, BYD Korea is actively building a regional network for passenger vehicle sales and services, CnEV Post added.
The company is currently focused on recruiting staff, obtaining necessary vehicle certifications, and finalizing marketing and employee training plans. BYD&#8217;s entry into the South Korean consumer EV market is expected to increase competition in the country&#8217;s growing low-cost EV segment, where domestic players Hyundai Motor and Kia have already started rolling out more affordable electric models.
Image via Shutterstock
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BYD To Enter South Korea's Passenger Car Market In 2025, Challenging Tesla Model 3 And Hyundai IONIQ 6: Report

Chinese EV maker BYD Co Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) is closing in fast on Michigan-based Ford Motor Co&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) global sales despite the former not manufacturing combustion engine vehicles. 
What Happened: BYD has sold over 3.25 million vehicles since the start of this year as of the end of October, marking a growth of about 36% from the corresponding period last year. In October alone, the company sold over half a million vehicles, marking a jump of about 36% from October 2023. 
If BYD&#8217;s 2024 sales were to increase by 36% through the end of the year, its sales would cross over 4 million. Ford sold just 4.4 million vehicles to dealerships across the world in 2023.
According to a <a href="https://www.bloomberg.com/news/articles/2024-11-11/byd-closing-in-on-ford-deliveries-after-besting-tesla-on-revenue">report</a> from Bloomberg, BYD now has the chance to beat Ford in terms of annual sales, thereby cementing its position as a top 10 automaker globally. Ford has been selling nearly 1.1 million vehicles worldwide on average for the past three quarters, the report noted.
Why It Matters: BYD Executive Vice President&nbsp;He Zhiqi said on Weibo earlier this month that the company hired over 200,000 people from August to October&nbsp;for car and components manufacturing and increased production by nearly 200,000 vehicles. 
According to BYD, the company made over 1.3 million NEVs in the three months from August to October, compared to nearly 900,000 units that it manufactured in the corresponding period of last year.
For the third quarter between July and September, BYD's operating revenue rose 24% to&nbsp;<a href="https://www.benzinga.com/news/24/10/41647639/teslas-chinese-rival-byd-outshines-elon-musks-ev-giant-in-quarterly-revenue-for-first-time-since-202" target="_blank" rel="noreferrer noopener">201.12 billion yuan ($28.25 billion)</a>, the company said in a filing late last month.
BYD&#8217;s American rival&nbsp;Tesla Inc.&nbsp;<a href="https://www.benzinga.com/news/earnings/24/10/41501607/tesla-q3-earnings-highlights-eps-beat-revenue-miss-shares-climb-on-2025-timeline-for-lower-cost-evs" target="_blank" rel="noreferrer noopener">reported a total revenue</a>&nbsp;of only $25.18 billion in the same quarter, making it the first time since 2022 that BYD has trumped&nbsp;Elon Musk&#8217;s&nbsp;EV giant in quarterly revenue. BYD stopped making combustion engine vehicles in March 2022 to focus on electric vehicles.<a href="https://www.benzinga.com/quote/tsla" target="_blank" rel="noreferrer noopener"></a>
Despite reporting higher revenue than Tesla in the third quarter, BYD&#8217;s net profit continued to trail behind<a href="https://www.benzinga.com/news/earnings/24/10/41501607/tesla-q3-earnings-highlights-eps-beat-revenue-miss-shares-climb-on-2025-timeline-for-lower-cost-evs" target="_blank" rel="noreferrer noopener">&nbsp;Tesla&#8217;s net income of $2.167 billion</a>. The company reported a diluted earnings per share of 4 yuan (56 cents) for the quarter, lower than Tesla&#8217;s adjusted earnings per share of 72 cents.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
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Photo courtesy: BYD

Chinese EV Maker BYD Edges Closer To Ford's Sales Volume After Beating Tesla In Revenue Race

The KraneShares Electric Vehicles and Future Mobility Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KARS#NYSE">KARS</a>) has just hit a significant milestone, making a Golden Cross that has investors' attention piqued <a href="https://www.benzinga.com/electric-vehicles">and driving optimism</a>.
The ETF, which tracks the global transition to electric vehicles (EVs) and future mobility, is experiencing a surge, with its price moving above its five, 20 and 50-day exponential moving averages, signaling strong bullish momentum. 
The ETF is benefitting from its top-tier holdings, which include a mix of the EV sector&#8217;s biggest names: BYD Co Ltd (OTCPK: BYDDF), Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Geely Automobile Holdings Ltd (OTCPK: GELYF). It includes emerging players as well: Li Auto Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>), XPeng Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NASDAQ">XPEV</a>) and Arcadium Lithium PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALTM#NYSE">ALTM</a>).
Read Also: <a href="https://www.benzinga.com/news/24/01/36508540/what-does-gms-electric-future-look-like-after-chevrolet-bolts-exit-last-years-delivery-numbers-could">What Does GM&#8217;s Electric Future Look Like After Chevrolet Bolt&#8217;s Exit? Last Year&#8217;s Delivery Numbers Could Give A Hint</a>
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent110824&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="627" height="452" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/08091326/Screenshot-2024-11-08-at-5.32.55-PM.png" alt="" class="wp-image-637717" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/08091326/Screenshot-2024-11-08-at-5.32.55-PM.png 627w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/08091326/Screenshot-2024-11-08-at-5.32.55-PM-300x216.png 300w" sizes="(max-width: 627px) 100vw, 627px" /></a></figure>
<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent110824&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>
<h2 class="wp-block-heading">KARS ETF Drives Up A Golden Cross</h2>
With a share price of $23.30, KARS is in the sweet spot for technical analysts. The 50-day simple moving average (SMA) has crossed over the 200-day SMA, triggering the Golden Cross. The ETF's eight-day SMA is at $22.52, the 20-day at $22.17 and the 50-day at $21.35. All these indicators show bullish signals, reinforcing the bullish sentiment surrounding the ETF.
It's currently trading at a price above its 200-day SMA of $21.08, further solidifying the case for upside potential.
The ETF is up 5% over the past five days and its 52-week high of $26.10 is well within reach. Despite a year-to-date decline of 7.32%, the recent uptick signals that KARS may be bouncing back, driven largely by the outperformance of its key holdings.
<h2 class="wp-block-heading">KARS Top Holdings Driving The Charge</h2>
KraneShares' KARS ETF is led by major EV players. BYD, the Chinese electric vehicle titan, is its top holding, making up 4.15% of the fund. Tesla (TSLA), a staple in the EV world, follows closely behind at 4.13%, while Geely, Xpeng and Li Auto continue to support the ETF's forward momentum. 
Tesla and BYD have been standouts this year, with BYD up 36.61% year-to-date and Tesla climbing 19.52%. 
Meanwhile, Li Auto has faced some struggles, down 25.96% this year, but the market is still hungry for electric vehicle exposure.
<h2 class="wp-block-heading">A Bullish Outlook, But Some Caution</h2>
While the Golden Cross signals bullish movement, KARS&#8217; Relative Strength Index (RSI) is currently at 58.9, suggesting the ETF is nearing overbought territory. With a MACD indicator of 0.33, there's still potential for more upside, but cautious optimism remains prudent as the market watches for any signs of cooling.
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Image: Shutterstock

Specialty ETFs

Signals

ETFs

ALTM

GELYF

KARS

XPEV

KARS ETF Hits Golden Cross Powered By Tesla, Geely, Xpeng, Li

Chinese EV giant BYD Co Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) hired over 200,000 people from August to October for car and components manufacturing and increased production by nearly 200,000 new energy vehicles, according to the company&#8217;s Executive Vice President He Zhiqi said on Weibo on Saturday.
What Happened: According to BYD, the company made over 1.3 million NEVs in the three months from August to October, compared to nearly 900,000 units that it manufactured in the corresponding period of last year.
New energy vehicles refer to both battery-electric vehicles and plug-in hybrids.
A whopping majority of the vehicles produced in the period were passenger plug-in hybrid vehicles. The company produced over 800,000 units of PHEVs in the period and nearly 500,000 battery-electric vehicles. 
Why It Matters: For the third quarter between July and September, BYD&#8217;s operating revenue rose 24% to <a href="https://www.benzinga.com/news/24/10/41647639/teslas-chinese-rival-byd-outshines-elon-musks-ev-giant-in-quarterly-revenue-for-first-time-since-202">201.12 billion yuan ($28.25 billion)</a>, the company said in a filing late last month.
BYD's American rival Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) <a href="https://www.benzinga.com/news/earnings/24/10/41501607/tesla-q3-earnings-highlights-eps-beat-revenue-miss-shares-climb-on-2025-timeline-for-lower-cost-evs">reported a total revenue</a> of only $25.18 billion in the same quarter, making it the first time since 2022 that BYD has trumped Elon Musk's EV giant in quarterly revenue. BYD stopped making combustion engine vehicles in March 2022 to focus on electric vehicles.
Despite reporting higher revenue than Tesla in the third quarter, BYD's net profit continues to trail behind<a href="https://www.benzinga.com/news/earnings/24/10/41501607/tesla-q3-earnings-highlights-eps-beat-revenue-miss-shares-climb-on-2025-timeline-for-lower-cost-evs" target="_blank" rel="noreferrer noopener">&nbsp;Tesla's net income of $2.167 billion</a>. The company reported a diluted earnings per share of 4 yuan (56 cents) for the quarter, lower than Tesla's adjusted earnings per share of 72 cents.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
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<li><a href="https://www.benzinga.com/news/24/11/41705641/elon-musks-mother-slams-biden-snubbing-tesla-at-ev-summit-3-years-ago-as-the-worst-thing-that-happen">Elon Musk&#8217;s Mother Slams Biden Snubbing Tesla At EV Summit 3 Years Ago As The &#8216;Worst Thing That Happened&#8217; To EV Giant</a></li>
</ul>
Photo courtesy: Shutterstock

Tesla Rival BYD Hired Over 200K Employees In 3 Months To Speed Up EV Production

Chinese EV giant BYD Co Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) on Wednesday reported a net profit of $11.6 billion yuan ($1.63 billion) for the third quarter, marking a growth of 11.5% from the corresponding period last year.
What Happened: Operating revenue of BYD rose 24% in the period to 201.12 billion yuan ($28.25 billion), the company said in a filing.
BYD&#8217;s American rival Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) reported a total revenue of only $25.18 billion in the same quarter, making this the first time since 2022 that BYD has trumped Elon Musk&#8217;s EV giant in quarterly revenue. BYD stopped making combustion engine vehicles in March 2022 to focus on electric vehicles.
BYD, however, sells plug-in hybrids in addition to battery electric vehicles. Tesla, on the other hand, sells only battery-powered electric vehicles. 
BYD sold 1.13 million vehicles worldwide in the third quarter with BEVs accounting for 443,426 of it. Tesla, however, trumped BYD in battery electric vehicle sales with 462,890 units delivered in the period. 
Why It Matters: In the last quarter of 2023, <a href="https://www.benzinga.com/news/24/01/36839203/warren-buffett-backed-byd-sees-higher-profits-for-fy23-after-taking-over-tesla-as-biggest-ev-seller">BYD had trumped Tesla in BEV sales</a> and its revenue for the period closed in on Tesla&#8217;s but missed narrowly. The American EV giant reclaimed the title of the world&#8217;s best-selling BEV maker in the first quarter of 2024 and has been holding on to it since. 
Despite reporting higher revenue than Tesla in the third quarter, BYD&#8217;s net profit continues to trail behind<a href="https://www.benzinga.com/news/earnings/24/10/41501607/tesla-q3-earnings-highlights-eps-beat-revenue-miss-shares-climb-on-2025-timeline-for-lower-cost-evs"> Tesla&#8217;s net income of $2.167 billion</a>. The company reported a diluted earnings per share of 4 yuan (56 cents) for the quarter, lower than Tesla&#8217;s adjusted earnings per share of 72 cents. 
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
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Photo via Shutterstock

Chinese EV Behemoth BYD Tops Tesla's Revenue For First Time Since 2022 In Q3

Volkswagen's (OTCPK:VWAGY) chief marketing officer and head of product strategy for China, Jochen Sengpiehl, was deported from China after testing positive for cannabis during a mandatory customs drug test. The test was conducted after Sengpieh's return from a vacation in Koh Samui, Thailand.
After routine test results revealed traces of marijuana in his system, Chinese authorities detained Sengpiehl for questioning, reportedly holding him for more than 10 days, <a href="https://www.wardsauto.com/volkswagen-group/volkswagen-official-deported-from-china-for-cannabis-use">writes</a> wardsauto. Per the reports, Chinese President Xi Jinping ordered his deportation.
The creator of VW's famous slogan "Das Auto," Sengpiehl played a crucial role in positioning the company's electric-vehicle business in a highly competitive Chinese market. He previously worked for top brands like Nissan (OTCPK:NSANY), DaimlerChrysler and Hyundai (OTCPK:HYMTF). 
Thailand decriminalized cannabis in 2022 and <a href="https://www.benzinga.com/markets/cannabis/24/04/38023610/heres-what-you-need-to-know-about-weed-legalization-in-germany-that-just-took-effect">Germany partially legalized it this past April</a>, However, in China, cannabis consumption is treated with zero tolerance.
Following the liberalization of cannabis laws in Thailand, tourists primarily from Asian countries like Japan, Malaysia, China and the Philippines are viewed as <a href="https://www.benzinga.com/markets/cannabis/24/07/39922637/thailand-will-not-re-criminalize-cannabis-prime-minister-agrees-to-regulate-industry-instead-wha">common as cannabis customers</a>. Singapore&#8217;s Central Narcotics Bureau announced plans to randomly test people returning from Thailand. China&#8217;s embassy in Thailand also cautioned Chinese tourists that consuming cannabis abroad could lead to penalties upon their return, as such actions are considered domestic violations.
Read Also: <a href="https://www.benzinga.com/markets/asia/24/09/40832311/inside-the-thai-retreat-with-cannabis-infused-wellness-treatments-that-target-insomnia-and-more">Inside The Thai Retreat With Cannabis-Infused Wellness Treatments That Target Insomnia And More</a>
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<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.</li>
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<h2 class="wp-block-heading">VW In China</h2>
Volkswagen is under pressure from local manufacturers like BYD (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>), a publicly listed Chinese multinational manufacturing conglomerate. Last year, BYD overtook Volkswagen as China's best-selling car brand.
In September, Volkswagen partnered with the German start-up Revoltech GmbH to research and develop sustainable materials <a href="https://www.benzinga.com/markets/cannabis/24/09/40689578/volkswagen-considers-hemp-to-develop-sustainable-substitute-for-imitation-leather">based on industrial hemp.</a> These could be used as sustainable surface materials in Volkswagen models from 2028.
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Price Action
Volkswagen shares closed Monday's market session 0.10% lower at $10.20 per share.
 Photo: Gyuszko-Photo on Shutterstock

Cannabis

Eurozone

HYMTF

NSANY

VWAGY

Volkswagen Executive Deported From China After Positive Cannabis Test

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) reportedly had a secret partnership with Chinese electric vehicle manufacturer BYD Co Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) to create long-range electric vehicle batteries.
What Happened: The partnership started in 2017 and aimed to develop a battery system using lithium iron phosphate cells, <a href="https://www.bloomberg.com/news/articles/2024-10-16/apple-secretly-worked-with-china-s-byd-on-long-range-ev-battery?srnd=undefined">reported</a> Bloomberg, citing people familiar with the matter.
While Apple does not own any technology used in BYD&#8217;s current Blade batteries, this development proves Cupertino's efforts to produce a car.
See Also: <a href="https://www.benzinga.com/news/24/10/41357341/as-nvidia-apple-and-microsoft-race-towards-4-trillion-valuation-generative-ai-startups-reportedly-dr">As Nvidia, Apple And Microsoft Race Towards $4 Trillion Valuation, Generative AI Startups Reportedly Draw 40% Of All VC Investment</a>
Previously, it was reported that the tech giant spent <a href="https://www.benzinga.com/news/24/03/37528093/apple-poured-1b-a-year-into-car-project-concocted-by-steve-jobs-for-a-decade-before-realizing-it-nee">roughly $1 billion annually</a> over the past decade on its car project, known internally as "Titan," before pulling the plug.
Today, BYD&#8217;s entire car lineup is powered by the Blade system — a battery pack design shaped by insights gained from its Apple collaboration, the report noted.
Eventually, Apple decided to back away from the partnership and consider systems from other battery manufacturers.
In February, it was reported that the iPhone-maker had abandoned the project.
Apple and BYD did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga&#8217;s</a> request for comments.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: Earlier this week it was reported that <a href="https://www.benzinga.com/news/24/10/41309072/apple-poured-1b-a-year-into-its-car-project-before-abandoning-it-tim-cooks-company-now-pulls-plug-on">Apple has terminated</a> its self-driving vehicle testing permit, which was granted in 2017.
The seeds of Apple Car were sowed by the company's legendary co-founder Steve Jobs, who wanted the tech giant to create "this generation's Volkswagen Beetle."
Now, while Apple has canceled the project, it continues to innovate in the automotive space. For example, in July 2024, it was reported that <a href="https://www.benzinga.com/news/24/07/40009035/months-after-shelving-decade-long-apple-car-project-iphone-maker-patents-camera-system-to-project-li">Apple had patented a novel camera</a> system for cars.
Image via Unsplash
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
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Apple Had A Hush-Hush Relationship With Tesla's Chinese-Rival BYD For Now-Abandoned Car Plans — Cupertino Poured Nearly $1B Each Year For A Decade Into The Project

Leading Chinese carmakers have dismissed the idea of challenging Europe&#8217;s legacy manufacturers with <a href="https://www.benzinga.com/news/24/10/41311787/tesla-rival-byd-slams-eu-tariffs-on-chinese-evs-needs-more-positive-education-trust-is-low">cheaper electric vehicles</a>.
What Happened: At the Paris motor show, Chinese carmakers, including Xpeng Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) and Guangzhou Automobile Group Co. Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GNZUF#OTC">GNZUF</a>), emphasized their long-term commitment to the European market. This comes amidst a trade war between Beijing and Brussels and fears of a potential &#8220;invasion,&#8221; <a href="https://www.ft.com/content/f0e8cf38-c5b3-4288-b9b3-4f12132628d3">reported</a> the Financial Times on Sunday.
&#8220;We&#8217;re a 10-year-old company. We&#8217;re not going to overthrow anybody who&#8217;s developed over 100 years,&#8221; said Xpeng co-president Brian Gu, while showcasing an electric saloon with advanced artificial intelligence technology. He added that Xpeng aims to be the provider of &#8220;premium electric vehicles&#8221; in Europe and does not intend to compete on price.
Chinese state-owned carmaker GAC, which is also making inroads in the region, echoed a similar sentiment, emphasizing the potential economic benefits of its entry into the European markets and its willingness to collaborate with European suppliers.
See Also: <a href="https://www.benzinga.com/news/24/10/41301725/elon-musk-says-robovans-angular-design-inspired-by-art-deco-trains-unusually-low-ground-clearance-en?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says Robovan&#8217;s Angular Design Inspired By Art Deco Trains, &#8216;Unusually Low&#8217; Ground Clearance Enabled By Automatic Load-Leveling Suspension</a>
These statements come amid growing political anxiety in Europe over the potential risks posed to the region&#8217;s industry. In early October, EU member states <a href="https://www.benzinga.com/news/24/07/39635158/eu-imposes-provisional-duties-of-as-much-as-37-6-on-chinese-ev-imports">agreed on tariffs of up to 45% on Chinese EVs</a> in an effort to counter their advance. This has led to a series of profit warnings from local manufacturers.
Why It Matters: The European Union&#8217;s protectionist stance against Chinese EVs has been a point of contention in the industry. The EU&#8217;s decision on tariffs for Chinese EVs could potentially lead to a <a href="https://www.benzinga.com/news/24/10/41143690/european-tariffs-on-chinas-ev-makers-could-backfire">wider trade war with China</a>, as the 27-member bloc&#8217;s protectionist stance could hurt its export-dependent companies, and its EV targets, and threaten critical raw material supplies.
China has also <a href="https://www.benzinga.com/news/24/09/40914629/china-warns-eu-tariffs-on-evs-will-harm-trade-with-germany">warned the EU</a> about the potential negative impacts on trade, especially with Germany, if the EU imposes tariffs on Chinese EVs. The situation has raised concerns about increased costs for consumers and potential impacts on the automotive market.
Meanwhile, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rival BYD Co. Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) has <a href="https://www.benzinga.com/news/24/10/41311787/tesla-rival-byd-slams-eu-tariffs-on-chinese-evs-needs-more-positive-education-trust-is-low">slammed the proposed EU tariffs</a> on Chinese-made EVs, warning that they could increase costs and discourage buyers. This warning comes as European and Chinese automakers compete at the Paris car show, the largest in Europe, during a time of weak demand and rising costs.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/10/41309072/apple-poured-1b-a-year-into-its-car-project-before-abandoning-it-tim-cooks-company-now-pulls-plug-on?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple Poured $1B A Year Into Its Car Project Before Abandoning It. Tim Cook&#8217;s Company Now Pulls Plug On Autonomous Vehicle Testing Permit In California: Here&#8217;s More</a></li>
</ul>
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

GNZUF

Tesla's Chinese Rivals Move To Calm Fears Of An European 'Invasion' That Threatens Legacy Players: 'Not Going To Overthrow Anybody Who's Developed Over 100 Years'

Tesla&#8217;s Chinese rivals slammed the proposed European Union tariffs on Chinese-made electric vehicles (EVs) during Paris Car Show. The situation has raised concerns about increased costs for consumers and potential impacts on the automotive market.
What Happened: The European Union&#8217;s proposed tariffs on Chinese-made electric vehicles could increase costs and discourage buyers, warned BYD (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) on Monday. This warning comes as European and Chinese automakers compete at the Paris car show, the largest in Europe, during a time of weak demand and rising costs, Reuters reported.
BYD Executive Vice President Stella Li expressed concerns over the tariffs.
&#8220;Europe&#8217;s EV market needs more positive education &#8230; trust is low. The problem is the high price, and that the European Union now charges tariffs,&#8221; Li slammed.
She emphasized that the tariffs could prevent less affluent individuals from purchasing EVs. Nine Chinese brands, including BYD and Leapmotor, are showcasing their latest models at the event, as reported by Paris auto show CEO Serge Gachot.
See Also: <a href="https://www.benzinga.com/news/24/10/41303750/elon-musks-new-cybercab-does-not-have-stainless-steel-exterior-panels-like-cybertruck-despite-other?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk&#8217;s New Cybercab Does Not Have Stainless Steel Exterior Panels Like Cybertruck Despite Other Resemblances, Says Tesla Engineer: &#8216;Mass And Cost…Is Undesirable&#8217;</a>
Earlier this month, EU member states narrowly approved import duties on Chinese-made EVs of up to 45%, aiming to counter alleged unfair subsidies from Beijing. However, China denies these claims and has threatened retaliatory measures. Despite the tariff concerns, Chinese automakers are continuing their European expansion plans, with GAC (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GNZUF#OTC">GNZUF</a>) and Leapmotor announcing ambitious sales targets in Europe.
Why It Matters: The European Union&#8217;s decision to impose tariffs on Chinese EVs has sparked significant debate. The <a href="https://www.benzinga.com/markets/equities/24/10/41182675/tesla-byd-and-other-ev-stocks-to-watch-as-eu-votes-to-approve-tariffs-on-chinese-ev-imports">European Commission</a> announced earlier this month that the tariffs, reaching up to 35.3%, were supported by EU member states. This move aims to address perceived unfair subsidies by China. However, the tariffs have drawn criticism from various quarters, including <a href="https://www.benzinga.com/news/24/09/40810974/us-ally-urges-eu-to-reconsider-tariffs-on-chinese-evs-we-dont-need-another-war">Spain&#8217;s Prime Minister Pedro Sánchez</a>, who urged the EU to reconsider its stance to avoid escalating trade tensions. The ongoing dispute highlights the delicate balance between protecting domestic industries and maintaining international trade relations. As Chinese automakers continue their push into the European market, the outcome of this tariff battle could have lasting implications for the global EV industry.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/10/41285210/tesla-stock-falls-nearly-3-in-overnight-trading-on-robinhood-after-self-driving-cybercab-unveil?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Stock Falls Nearly 3% In Overnight Trading On Robinhood After Self-Driving Cybercab Unveil</a></li>
</ul>
Image via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Tesla Rival BYD Slams EU Tariffs On Chinese EVs: 'Needs More Positive Education...Trust Is Low'

Chinese electric vehicle giant BYD (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) is setting ambitious targets for the Mexican market, aiming to sell 100,000 electric vehicles by 2025. This comes despite potential tariff challenges from former President Donald Trump that could impact the company&#8217;s growth strategy.
What Happened: Jorge Vallejo, who leads BYD&#8217;s operations in Mexico, announced plans to sell 50,000 EVs in the country this year, with a goal to double that figure by 2025, Reuters reported on Wednesday. Vallejo also mentioned that BYD plans to reveal the location of its first Mexican factory by the end of the year. The facility is expected to initially produce 150,000 vehicles, with a potential expansion to increase output by another 150,000 units.
This comes at a time when Trump has vowed to <a href="https://www.benzinga.com/news/24/09/40913456/trump-vows-200-tariffs-on-chinese-made-cars-in-mexico-warns-of-us-auto-industry-collapse-if-kamala-h">impose 200% tariffs</a> on Chinese made cars in Mexico if he wins the 2024 Presidential election.
BYD, which began importing vehicles to Mexico last year, is seeking an extension of tariff relief for its EV imports. Despite the looming threat of tariffs, the company remains optimistic about its expansion in the Mexican market.
See Also: <a href="https://www.benzinga.com/general/restaurants/24/10/41198120/elon-musk-vs-mcdonalds-tesla-fans-wanted-collaboration-instead-they-get-new-product-launch-co?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Vs. McDonald&#8217;s: Tesla Fans Wanted Collaboration, Instead They Get New Product Launch Competing With Robotaxi Day</a>
Why It Matters: BYD&#8217;s expansion plans in Mexico are part of a broader strategy to navigate global tariff challenges. Earlier this year, BYD reportedly <a href="https://www.benzinga.com/markets/equities/24/09/40693961/chinas-ev-giant-byd-reportedly-delays-mexico-move-eyes-us-election-results-before-big-investment">delayed significant investments</a> in Mexico, awaiting the outcome of the U.S. elections. This cautious approach reflects the uncertainties posed by fluctuating American policies.
In July, <a href="https://www.benzinga.com/news/24/07/39662998/chinese-ev-makers-pivot-to-africa-amid-eu-and-us-tariff-hurdles">Chinese EV manufacturers</a>, including BYD, began exploring alternative markets like Africa due to increased tariffs from the EU and U.S. These protectionist measures have prompted Chinese companies to diversify their market presence.
Despite these hurdles, BYD has shown resilience, with <a href="https://www.benzinga.com/markets/asia/24/10/41191924/chinese-ev-stocks-li-auto-byd-nio-to-benefit-from-rebound-analyst">analysts predicting a rebound</a> in the Chinese EV market. BYD&#8217;s aggressive global expansion and new model launches are expected to sustain its growth momentum, underscoring the company&#8217;s strategic adaptability in the face of international trade challenges.
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Image via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

BYD Targets 100K EV Sales In Mexico By 2025 As Trump Vows 200% Tariffs On Chinese-Made Cars In North American Nation

Macquarie Equity Research issued a positive outlook for the short-term Chinese EV market following <a href="https://www.benzinga.com/24/09/41089098/jim-cramer-hand-picks-these-3-stocks-to-ride-the-crest-of-the-chinese-stimulus-frenzy">a $142 billion</a> (<a href="https://www.benzinga.com/24/09/41089098/jim-cramer-hand-picks-these-3-stocks-to-ride-the-crest-of-the-chinese-stimulus-frenzy">one trillion yuan) stimulus package</a>. Analysts listed several positive catalysts, including new model launches, expanded margins due to operating leverage, the end of subsidies pulling demand forward, reduced discounting pressures and clarity on potential <a href="https://www.benzinga.com/markets/asia/24/10/41188462/european-automakers-criticize-chinese-ev-tariffs">European Union (EU) tariffs</a>, which had previously been uncertain for Chinese automakers.
The firm sees BYD (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) and NIO Inc &#8211; ADR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) benefiting from the shift. BYD led the charge, selling 419,400 units in September, marking a 46% year-over-year increase. The company's aggressive expansion overseas surprised the EV market.
Launching new models, particularly those based on its highly efficient DM-i hybrid technology, should help sustain its growth momentum in the coming months. Macquarie remains optimistic and has raised the price target for BYD shares to about $46.35 (HK$ 360), indicating a potential upside of over 20%.
Although on a much lower scale, Nio also had a successful September, selling 21,200 units, indicating a 35% year-over-year growth. The company successfully introduced a battery-as-a-service model, lowering consumers&#8217; upfront costs.
Still, Macquarie sees the risks from domestic and foreign competition, believing that the battery-swapping technology is not widely adopted. It rates the stock as Neutral, with its U.S-listed share price target of $8.20, representing a modest upside of around 13.5%.
Li Auto Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) faces a more challenging outlook despite performing well in sales. The company sold 53,700 units in September, marking a 49% year-over-year increase. But, Macquarie believes there is a lack of a clear catalyst in the second half of the year, particularly as no new models are scheduled for release during this period.
Li Auto's extended-range electric vehicles (EREVs) have been popular, but the market is notably shifting toward pure battery electric vehicles (BEVs). The company risks losing momentum without new BEV models or innovations in the near term.
Macquarie's analysts point out that price competition pressuring the margins is one of the key risks, alongside a potential decline in demand for EREVs as consumers shift to fully electric vehicles.
Still, they acknowledge the possibility of Li Auto outperforming if its L series continues selling well and if it can successfully launch a BEV SUV in 2025. For now, Macquarie has set the price target at $33, giving it an upside of 10.4%. The firm also gave<a href="https://www.benzinga.com/quote/LI"> Li Auto</a> stock a downgrade from Outperform to Neutral.
Read Next:<a href="https://www.benzinga.com/markets/equities/24/10/41182930/china-was-tipping-into-a-japan-style-lost-decade-of-deflation-and-stagnation-before-late-septemb"> </a> • <a href="https://www.benzinga.com/markets/equities/24/10/41182930/china-was-tipping-into-a-japan-style-lost-decade-of-deflation-and-stagnation-before-late-septemb">China Was Tipping Into A Japan-Style &#8216;Lost Decade&#8217; Of Deflation And Stagnation Before Late-September Stimulus Announcements, Says Legal Expert</a>
Photos: Li Auto, BYD, Nio vehicles via Shutterstock

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Chinese EV Stocks Li Auto, BYD, Nio To Benefit From Rebound: Analyst

<a href="https://www.wsj.com/business/autos/eu-to-move-ahead-with-new-tariffs-on-chinese-made-evs-1d9e7a05?mod=latest_headlines">https://www.wsj.com/business/autos/eu-to-move-ahead-with-new-tariffs-on-chinese-made-evs-1d9e7a05?mod=latest_headlines</a>
&nbsp;
The European Union will move ahead with tariffs of up to 45% on electric vehicles made in China, defying pleas from some European auto executives who fear retaliation from Beijing and an escalating trade war.
EU member states voted Friday to impose the new import duties that will apply for the next five years in a move aimed at protecting European carmakers amid rising competition from Chinese-made vehicles.

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Reported Earlier, 'EU To Move Ahead With New Tariffs On Chinese-Made EVs; Import Duties Of Up To 45% Will Be Imposed For The Next Five Years, Despite Retaliation Fears' - WSJ

European Union&#8217;s member states have expressed sufficient support for imposing <a href="https://www.benzinga.com/news/24/10/41143690/european-tariffs-on-chinas-ev-makers-could-backfire">definitive additional tariffs of up to 35.3%</a> on China-made battery electric vehicle imports, the European Commission said in a statement on Friday. 
What Happened: &#8220;Today, the European Commission&#8217;s proposal to impose definitive countervailing duties on imports of battery electric vehicles (BEVs) from China has obtained the necessary support from EU Member States for the adoption of tariffs,&#8221; the commission said. 
The commission added that it would continue to work with China to find an alternative solution. 
EU first announced that it would impose tariffs on China-made EVs in June, alleging that EV manufacturers in China benefit from &#8220;unfair subsidies&#8221; and that their cheaper offerings pose a threat to European manufacturers. Provisional duties were imposed in July. 
Potentially Impacted Stocks: The stocks that might potentially be affected by the definitive tariffs <a href="https://www.benzinga.com/news/24/09/40914629/china-warns-eu-tariffs-on-evs-will-harm-trade-with-germany">include</a>:
<ol>
<li>BYD Co Ltd. (OTCPK: BYDDY) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>): The Chinese EV giant exports significantly into Europe. In September alone, the company sold 33,012 units of its vehicles overseas, of which 30,512 were exported, including to Europe.</li>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>): Tesla, in addition to manufacturing within Germany, also imports vehicles into Europe from its gigafactory in Shanghai. EU has slapped an additional tariff of 7.8% on Tesla EVs made in China and sold in Europe.</li>
<li>Nio Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) and Xpeng Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>): Shanghai-based Nio and Guangzhou-based XPeng also export their vehicles from China into Europe.</li>
</ol>
Other automakers to be impacted by the tariffs include BMW, Volkswagen, and SAIC Motors.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
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<li><a href="https://www.benzinga.com/news/24/10/41135581/tesla-discontinues-cheapest-model-3-variant-entry-level-trim-now-starts-at-42-490" target="_blank" rel="noreferrer noopener">Tesla Discontinues Cheapest Model 3 Variant: Entry Level Trim Now Starts At $42,490</a></li>
</ul>
Photo courtesy: Shutterstock

Tesla, BYD, And Other EV Stocks To Watch As EU Votes To Approve Tariffs On Chinese EV Imports

Retail investors can make a bet or take on an opposing view with increased odds of success whenever a market gets too crowded on the long or short side. Like the 2008 financial crisis, when everyone bet in favor of housing only to find out they all had to run for the exit all at once, only a few investors could spot this unfair advantage opportunity.
In today&#39;s stock market, investors can look at this report from Bank of America, which covers the weighing in thematic trades and investments. The most crowded trade is now in the United States&#39; so-called &quot;Magnificent Seven&quot; stocks; the second most crowded trade is shorting Chinese stocks. Now that everyone is rushing to close their shorts, Chinese names like&nbsp;Alibaba Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/baba#NYSE">BABA</a>)&nbsp;and&nbsp;Baidu Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bidu#NASDAQ">BIDU</a>) have triggered a major short squeeze.
The same could happen if any downturn were to occur in crowded technology stocks like Meta Platforms Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>), Apple Inc., and even investor favorite Tesla Inc.&nbsp;A rush to exit these names at once could cause what&#39;s termed a pain trade, where most of the participants will be brought to maximum risk tolerance and forced to liquidate and accelerate the selloff.
<h2>Pain Trade #1: Why Tesla Stock Could Be at Risk </h2>
Tesla is riding on two major tailwinds and thesis today. First, the robotaxi unveiling might or might not be here as soon as investors think. Second, the pace of delivery numbers to be released this week places a significant weight on the potential future path of Tesla stock.
The good news for bulls is that China is back online, and Tesla has been expanding its footprint in Asia&#39;s powerhouse. Peers in the region, like NIO Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nio#NYSE">NIO</a>) and BYD (OTC: <a class="ticker" href="https://www.benzinga.com/stock/byddf#OTC">BYDDF</a>), have both reported record deliveries for the third quarter, with BYD hitting a significant 1 million milestone in deliveries.
Now, here&#39;s the bad news. Tesla stock trades at a price-to-book (P/B) of 12.4x today, compared to NIO stock&#39;s 6.7x and BYD&#39;s 6.4x valuations today. In the United States, most automotive stocks trade at an average P/B valuation of less than 1.5x, which means Tesla&#39;s potential delivery growth might already be priced into the stock today.
This means that, even if delivery numbers are bullish, Tesla has little room to keep moving higher. This is why Wall Street analysts now only forecast $0.63 earnings per share (EPS) in the next 12 months, calling for net growth of 21.1% from today&#39;s $.52.
While this EPS growth may be impressive, the issue of it already being priced into the stock remains. Those at Guggenheim landed on a $153 price target for Tesla stock, calling for as much as 40.1% downside from where the stock trades today. Even the consensus of $209.9 is bad enough to call for an 18.6% downside for Tesla.
<h2>Pain Trade #2: Why Apple Is No Longer a Buffett Favorite</h2>
That&#39;s right. Warren Buffett cut as much as 50% of his stake in Apple stock during the past quarter. While he quoted the sale as being driven by tax efficiency purposes, a deeper reason could be related to the weakening consumer discretionary sector.
With new interest rate cuts coming from the Federal Reserve (the Fed), the dollar is set to weaken, as interest rates are one of the main drivers of currency valuations. This means the U.S. consumer will suffer from even thinner buying power after inflation has already had its round of negative effects on it.
Even though Apple is an international giant able to cushion whatever consumption tailwinds come from the United States, the same reasoning applies when it comes to pricing in this safety and growth potential. Apple stock now trades at 51.6x P/B compared to other peers in the technology space, like Alphabet Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>) and its 6.9x valuation.
Analysts at Barclays now see a valuation of $186 for Apple stock, which calls for a net downside of 17.8% from where the stock trades today. This reiterates the potential for Apple to become a pain trade in the coming months.
<h2>Pain Trade #3: Meta&#39;s Heavy Cash Outlay Mirrors the Metaverse Flop</h2>
In 2022, Meta stock traded down to $90, one of the lowest prices seen since the COVID-19 pandemic. The reason for the crash was the strategy behind the Metaverse, which burned through billions of the company&#39;s free cash flow in a project that never took off.
The same cycle is happening today as Meta looks for new disruptive ideas and technologies to make a new splash; Mark Zuckerberg (Meta&#39;s CEO) has decided to venture into artificial intelligence glasses that could supposedly replace smartphones if done right.
How much cash will Meta burn through this time on this project, and will it have any return? Investors do know that the stock trades at its 52-week high, and analysts at Goldman Sachs don&#39;t think it can break through that ceiling.
With a $555 share price target, Goldman Sachs thinks Meta has a potential downside of 5% from where it trades today. However, that could only be the tip of the iceberg, as the financial impacts of this new project are not yet known.
The article &quot;<a href="https://www.marketbeat.com/stock-ideas/why-the-magnificent-7-could-become-a-pain-trade-for-investors/">Why the Magnificent 7 Could Become a Pain Trade for Investors</a>&quot; first appeared on MarketBeat.

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