Strong iPhone X demand boosts shares of Apple suppliers

apple-stock

Apple suppliers have globally witnessed the boost in their share prices as CEO, Tim Cook, claims that the demand for the new iPhone X is off the charts. The Tech giant claims that pre-orders for the special 10th anniversary iPhone X were skyrocketting.

Shortly after the open of European Trade on Monday, Anglo-German, a Chipmaker Dialog Semiconductor was seen at the top of Europe’s Stoxx 600 index, rising by 6.5 percent. While in Italy, Franco-Italian chipmaker STMicroelectronis, which rose by more than 3.5 percent in early trade.

ST Micro is enjoying increased demand for new sensors that analysts widely believe Apple is using in the latest iPhones.

Austria Microsystems (AMS) which is another stock that is doing well, and was seen up by nearly 3 percent early in the session. AMS supplies smartphone makers such as Apple and Samsung with optical sensors that adjust brightness and colors on screens.

Asian component suppliers also shot straight up overnight. iPhone assembler Foxconn and Chap-maker Taiwan semiconductor Manufacturing Company were amongst those attracting investor attentions.

On Friday, Apple aims to reassure the industry watchers and shareholders that the iPhone’s new unit’s hefty $999 price tag would not put people off buying the new device. Munster stated in a special commentary for CNBC that Apple’s success over the next year will hugely depend on how the iPhone X will do for the company.

Munster says that he thinks many consumer will upgrade to the new product, which would allow the extra cost to be factored into its installment plans.

FAQs

Leave a Reply

Your email address will not be published. Required fields are marked *