“Apple Inc.’s latest products are getting a thumbs down, at least by investors in the company’s Asian suppliers,” Jeanny Yu reports for Bloomberg Technology. “Hon Hai Precision Industry Co., which assembles the iPhone and other Apple devices, has fallen 10 percent in Taipei since Apple unveiled its collection of new gadgets for the holidays this month. Other suppliers across the region, including Taiwan’s Pegatron Corp. and South Korea’s LG Innotek Co. have plunged more than 12 percent.”
“‘Orders of the new IPhone have disappointed the market and foreign investors may continue net selling Taiwan stocks,’ said Alan Tseng, Taipei-based vice president at Capital Investment Management,” Yu reports. “Overseas investors pulled a net $677 million from the island’s stock market last week, the biggest outflows in three months. Earlier optimism that the iPhone would bolster Taiwan earnings had sent the Taiex to a 17-year high as inflows swelled. The Taiex slid 1.1 percent the close, its lowest in a month.”
Yu reports, “Apple iPhone 8 pre-orders are “substantially lower” than iPhone 7 and iPhone 6 levels, Rosenblatt Securities analyst Jun Zhang wrote in a note last week. Initial feedback suggests iPhone 8 volume is below predecessors in the U.S. and even more so in China, according to Zhang.”
Read more in the full article here.
MacDailyNews Take: Inexplicably, nowhere does the report mention the existence of iPhone X. You know, the iPhone for which everyone is waiting. This report acts as as if the “iPhone 8” is all there is and therefore Apple’s iPhones this year are a “disappointment.”
If you get your investment information from Bloomberg Technology, we pity you.
For AAPL shareholders, the theme for this morning is: The fix is in.
This too shall pass.
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Analysts: Users are passing on iPhone 8/Plus, waiting for iPhone X instead – September 20, 2017
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USA Today’s Baig reviews iPhone 8/Plus: Excellent iPhones overshadowed by iPhone X – September 19, 2017
Sprint follows AT&T with free iPhone 8 offer for trade-in – September 18, 2017
Why you might get a deal on a new iPhone after all – September 18, 2017
AT&T fires first shot in iPhone price war with buy-one-get-one-free offer – September 13, 2017