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Apple's Asia suppliers rise on forecast of strong holiday sales
BEIJING (BLOOMBERG) - Apple's suppliers in Asia, including Hon Hai Precision Industry Co and Wistron Corp, rose after Apple forecast revenue for the quarter ending in December that topped estimates amid strong demand for its 10th anniversary iPhone.
Hon Hai, the main assembler of the iPhone X, rose as much as 1.8 per cent in Taipei trading, while Wistron, another Apple assembler, rose as much as 4.3 per cent. Quanta Computer Inc, Pegatron Corp and Genius Electronic Optical Co also rose.
After concerns about production volumes this year, Apple signaled it's fixing supply problems with the iPhone X and setting itself up for a better-than-expected holiday period.
Supported by resurgent iPad and Mac sales, the 10-year anniversary iPhone will help push revenue to a record high of US$84 billion to US$87 billion in the quarter ending in late December, Apple said in a statement. Analysts had predicted US$84 billion, according to data compiled by Bloomberg.
Apple shares rose about 4 per cent in late US$850 billion.