Asia suppliers follow Apple lower after iPhone launch
Asia suppliers follow Apple lower after iPhone launch: Asia-listed Apple suppliers largely remained in the doldrums on Tuesday after Apple shares fell on reports component suppliers had been told to slow delivery.
Apple shares closed 0.9 per cent lower on Monday in New York as Digitimes reported the company had asked suppliers to ship just 40 per cent of the originally planned quantities of components for the iPhone X.
Asia-listed Apple suppliers and assemblers have fallen since the California-based company revealed its latest iPhone 8 and iPhone X models on September 12. Taiwanese companies have been particularly hard hit with Pegatron falling 17.1 per cent since the launch and Hon Hai Precision Industry (Foxconn) shedding 11.5 per cent. Taiwan Semiconductor Manufacturing was among the least affected, dipping 2.3 per cent since September 12.
Hon Hai and TSMC have a combined weighting of 24.4 per cent of Taiwan’s benchmark Taiex index.
Jeff Pu, analyst with Yuanta Secrities, said the slide was linked to weaker-than expected sales for the iPhone 8 and 8+ as well as the component constraints for the iPhone X.
Hong Kong-listed AAC Technologies has fallen 12.2 per cent since Apple unveiled the new models.
Apple shares have shed 6.8 per cent since the launch of its new suite of products.
Pegatron shares were down 2.1 per cent on Tuesday, TSMC was down 1.4 per cent and Hon Hai fell by the same amount. The benchmark Taiex closed down 0.8 per cent.
AAC shares slipped 0.9 per cent, compared to a 0.2 per cent fall for the benchmark Hang Seng index.
Source:-Â https://www.ft.com/content/ff67d1fd-b43a-3ce9-a0e8-88225eb1c0c6
