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Asia-listed companies that supply parts to Apple were experiencing a mixed day of trading in the wake of the tech juggernaut reporting a return to increasing revenue in the December quarter.

Apple sold 78.3m iPhones in the holiday quarter, up 5 per cent from a year ago and underpinned by the popularity of the iPhone 7 Plus. Total revenue rose 3 per cent from a year ago to $78.4bn in the December quarter, topping the company’s own forecasts as well as those of Wall Street analysts.

In after-hours trading on the Nasdaq, Apple shares were up 3 per cent to $125.02.

The news hasn’t had a uniform effect on the share prices of Apple’s Asia-listed suppliers, but there are a number of market- and company-specific issues that are also affecting stock prices.

For starters, a number of Apple’s biggest suppliers, including Hon Hai Precision Industry and are listed in Taiwan, which is still closed for the lunar new year holiday.

Stocks in Hong Kong, such as AAC Technologies, which makes speaker components for Apple, have returned from a long weekend and are playing catch-up with the rest of the region: the Hang Seng is down 0.9 per cent in morning trade.

In the case of Japanese names, earnings reports have proven to be key share price drivers. Murata Manufacturing is among the worst of the Apple suppliers today after yesterday reporting an operating profit below analysts’ estimates. Meanwhile, Alps Electric, which is the top performer among key Apple suppliers today, yesterday delivered a 3Q profit above expectations and lifted its full-year forecast.

Copyright The Financial Times Limited 2017. All rights reserved.
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