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Singapore telco stocks little changed after latest iPhone launch
SHARES in local telco operators Singtel, StarHub and M1 were relatively unchanged on Wednesday, a day after Apple launched its much-anticipated iPhone X.
Singtel shares were trading at S$3.67 a share, up one Singapore cent, or 0.3 per cent at 12.32pm. StarHub was hovering around S$2.58, down three Singapore cents, or 1.15 per cent, while M1 was at S$1.80, down a cent, or 0.55 per cent.
On Tuesday, Apple chief executive officer Tim Cook unveiled the company's latest gadget aimed at fending off growing competition.
Analysts are cautious about the upside handset earnings may have on the telcos as the supply allocation remains unclear.
Apple's iPhone X will be available on Nov 3 in Singapore, with prices starting from S$1,648 (64GB, without contract) to S$1,888 (256GB, without contract). Pre-orders start from Oct 27.