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Apple concept stocks generally down after iPhone debut; TPK up

Apple concept stocks generally down after iPhone debut; TPK up

Taipei, Sept. 10 (CNA) Taiwanese suppliers to Apple Inc. generally moved lower Thursday morning after the launch of the next-generation iPhones -- the iPhone 6S and the iPhone 6S Plus -- failed to amaze investors, which raised concerns over shipments of the new devices, dealers said. Outperforming other Apple concept stocks, shares of touch panel maker TPK Holding Co. (??) posted gains as the new iPhones introduced the biggest upgrade of a 3D touch screen, also known as the Force Touch technology, so investors had high hopes that the Taiwanese touch screen supplier will benefit from an increase of orders from the U.S. consumer electronics giant, the dealers said. As of 11:03 a.m., shares of camera lens maker Largan Precision Co. (???) had fallen 3.18 percent to NT$2,740.00 (US$84.04), shares of metal casing supplier Catcher Technology Co. (??) had lost 1.78 percent to NT$331.50, and shares of Hon Hai Precision Industry Co. (??) -- an assembler of iPhones and iPads -- had shed 1.05 percent to NT$84.60. However, shares of TPK had added 1.95 percent to NT$94.20 as of 11:03 a.m. The weighted index on the Taiwan Stock Exchange was down 0.44 percent at 8,250.65 points. Apple unveiled the new iPhones along with the new Apple TV, iPad Pro and Apple Watch in San Francisco overnight. After the launch of the new devices, shares of Apple fell almost 2 percent on Wall Street. "The fall in Apple's share price showed cautious sentiment toward the sales of the new iPhones. Such caution spread to these Apple concept stocks in Taiwan," MasterLink Securities analyst Tom Tang said. "So investors here simply rushed to lock in profits they had built a session earlier before the iPhone debut." "To many investors, the new iPhones failed to go beyond the previous market expectations. It seemed that investors wanted an iPhone with more innovations but it is not easy at all," Tang said. The 4.7-inch iPhone 6S and he 5.5-inch iPhone 6S Plus have a 12-megapexiel rear camera, an upgrade from 8-megapixel lenses used by its predecessors, the iPhone 6 and the iPhone 6 Plus, while the new iPhones are equipped with the A9 processor, about 20-30 percent more efficient than the A8 processor used by the previous models. The new iPhones have four colors -- gold, silver, space gray and rose gold, and have the Force Touch technology 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. "Judging from the fluctuations of these local Apple suppliers, I think that investors have faith that TPK will see its sales growth momentum accelerate in the second half of this year due to the introduction of the Force Touch technology, which has been perceived as a more attractive feature for consumers," Tang said. Tang said that in fact, TPK's August sales data show the benefits of Apple's increasing orders and the figure will continue to trend higher. "That's why TPK shares have started to rebound from recent sell-off." In August, TPK posted NT$11.82 billion in consolidated sales, up 23.9 percent from a a month earlier. (By Han Ting-ting, Pan Chi-i and Frances Huang)


Updated : 2021-09-18 10:37 GMT+08:00