“Hon Hai Precision Industry Co. led Apple Inc. suppliers higher in Taipei trading after the Cupertino, California-based maker of the iPhone and iPad reported record earnings last week,” Weiyi Lim reports for Bloomberg.
“Hon Hai, an Apple product assembler, climbed by the 7 percent daily limit to NT$93.80 as of the close, the biggest advance since May 2009,” Lim reports. “Catcher Technology Co., a maker of iPhone cases, rose 6.9 percent to NT$179, the highest close since Oct. 28. Largan Precision Co., a lens maker, jumped 6.6 percent to NT$628, the highest since Nov. 9.”
Lim reports, “‘Hon Hai could benefit’ from Apple’s results, Arthur Hsieh, an analyst at UBS AG, wrote in a Jan. 27 report covering the world’s largest contract manufacturer of electronics. ‘The growth momentum is much more significant than we expected previously.’ UBS raised its recommendation on Hon Hai stock to ‘buy’ from ‘neutral.'”
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