Apple shares down following iPhone product launch
** Shares of Apple Inc AAPL.O down 1.6% on Mon after the co unveiled an AI-boosted iPhone 16, hours after Chinese rival Huawei's tri-fold phone began racking up orders
** AAPL's latest product launch comes as it tries to reverse falling iPhone sales amid tough competition in China
** The latest phones use AAPL's new A18 chip, based on a design from Arm Holdings O9Ty.F, ARM.O, and new customizable button that can be used for camera controls
** Shares of Arm Holdings were last up ~6%
** Huawei's website showed > 3 mln pre-orders for its Z-shaped tri-fold phone, underscoring its ability to navigate U.S. sanctions and solidify its position against AAPL in China
** AAPL up ~13% YTD vs Nasdaq's .IXIC ~12% increase
Reporting by Noel Randewich
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