Apple’s Asian suppliers sink as new products, including iPhone X, underwhelm
Taipei/Hong Kong: Shares of Apple Inc.’s suppliers across Greater China greeted the company’s latest product line-up, including its most-expensive-ever iPhone, with losses.
While there were a few exceptions, the lack of any major surprises in Tim Cook’s much-anticipated unveiling weighed on stocks from Taiwan’s Pegatron Corp., an iPhone assembler, to South Korean screen-maker LG Display Co.
Hong Kong-listed Cowell e Holdings Inc.—a maker of iPhone cameras that derives about 81% of its revenue from Apple, according to data compiled by Bloomberg—tumbled as much as 6.6%, while Taiwan’s Catcher Technology Co. slid the most since November. Catcher makes metal cases used in laptops and smartphones, and the new iPhones have glass cases, said Allan Lin at Concord Securities Co.
Quanta Computer Inc., assembler of the Apple Watch, got a boost though, along with Hong Kong’s AAC Technologies Holdings Inc., which Jefferies Group noted should benefit from an upgrade to iPhone sound functions and the removal of the home button. Bloomberg