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In the wake of slowing iPhone sales, Taiwanese stocks that supply Apple are in focus today and for the most part holding up.
After market close on Tuesday, Apple reported a 1 per cent decline in sales of its flagship device to 50.8m units in the March quarter. That took the gloss off a 10 per cent rise in reported earnings and a $50bn boost to its shareholder capital return programme.
Apple shares were down 1.8 per cent in after-hours trading on the Nasdaq, having closed 0.6 per cent higher during regular trade on Tuesday.
Taiwan-listed suppliers were in focus on Wednesday given the public holidays that kept the Japanese, South Korean and Hong Kong markets closed.
Among suppliers with more than $1bn in cost of goods sold to Apple, according to Bloomberg estimates:
- Hon Hai Precision Technology, Apple’s primary assembler, was up 1 per cent. Also known as Foxconn, the company’s relationship with Apple is worth $23.9bn, Bloomberg estimates.
- Pegatron, an iPhone assembler, down 0.1 per cent.
- Taiwan Semiconductor Manufacturing, the world’s biggest contract microchip maker by revenue, up 0.8 per cent.
- Catcher Technology, a supplier of metal casings, up 1.8 per cent
- Casetek Holdings, a casing supplier, up 1.5 per cent
- Quanta Computer, producer of Apple’s wearables and iMacs, up 0.5 per cent
- TPK Holding, a touch module supplier, up 0.5 per cent
- Simplo Technology, a battery maker, up 0.5 per cent
- FLEXium Interconnect, a flexible circuit board maker, down 0.4 per cent
- Advanced Semiconductor Engineering, a chip assembler and tester, down 0.5 per cent
In China, where markets are open today, Lens Technology, which makes glass screens for smartphones and tablets, was down 2.6 per cent.
Taiwan’s benchmark Taiex was up 0.2 per cent, while China’s Shanghai Composite was down 0.4 per cent.
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