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Apple concept stocks jump ahead of new iPhone debut

Apple concept stocks jump ahead of new iPhone debut

Taipei, Sept. 9 (CNA) Shares of Taiwanese suppliers to Apple Inc. got a boost Wednesday from high hopes that their shipments will increase in the second half of this year due to a launch of the next generation iPhones, dealers said. Such positive thinking was reinforced to send these Apple concept stocks higher right before the U.S.-based consumer electronics giant is scheduled to launch the new iPhone models, likely to be called the iPhone 6S and the iPhone 6S Plus, in San Francisco later in the day, the dealers said. Among the gaining Apple concept stocks, integrated circuit packaging and testing services provider Advanced Semiconductor Engineering Inc. (ASE, ???) rose 10 percent, the maximum daily increase, to close at NT$35.45, with 54.89 million shares changing hands. Smartphone camera lens supplier Largan Precision Co. (???) gained 9.69 percent to end at NT$2,830.00, and Hon Hai Precision Industry Co. (??), an assembler of iPhones and iPads, added 3.26 percent to close at NT$85.50. The weighted index on the Taiwan Stock Exchange ended up 3.56 percent at 8,286.92 on turnover of NT$118.05 billion (US$3.62 billion) in the wake of a strong showing on Wall Street overnight. Apple concept stocks generally attracted buying soon after the market opened, in line with the uptrend seen on the broader market as investor sentiment improved, with global markets staging a strong rebound from a recent slowdown. These Taiwanese suppliers to Apple steamed ahead further for the rest of the session as investors here were encouraged by hopes that the launch of the iPhone 6S and the iPhone 6S Plus will pave the way for increased shipments in the second half of this year. Apple was scheduled to hold a conference later in the day and the market was widely expecting that the U.S. firm will introduce the new iPhone models to consumers along with the next version of the Apple TV. The new iPhones are expected to boast the Force Touch technology, the latest 3D touch display, which allows users to press harder on the screen for new input methods such as a handwritten signature, a development that is seen likely to expand the use of smartphones in the business sector. Another anticipated feature of the new iPhones is the always-on "Hey Siri" voice activation function that allows users to invoke the virtual assistant even when their devices are unplugged. The new iPhones are expected to be equipped with the latest Apple central processing unit -- the A9 processor -- which is said to be 20-30 percent quicker than its predecessor, the A8 processor. The gains posted by the Apple concept stocks show that the fourth quarter of this year will be a peak for sales after the new iPhones go on sale. Hon Hai will be one of the largest beneficiaries, on expectations that its sales growth momentum will start to pick up from September, the dealers said. ASE is expected to hit new sales highs in the fourth quarter as Apple uses the Taiwanese firm's advanced system-in-package (SiP) technology in the chips installed in the next iPhone models, they said. (By Jalen Chung and Frances Huang)


Updated : 2021-09-19 11:00 GMT+08:00