HONG KONG: Apple Inc’s latest products are getting a thumbs down, at least by investors in the company’s Asian suppliers. That’s especially bad news for Taiwan equities.Hon Hai Precision Industry Co, which assembles the iPhone and other Apple devices, has fallen 10% in Taipei since Apple unveiled its collection of new gadgets for the holidays this month. Earlier optimism that the iPhone would bolster Taiwan earnings had sent the Taiex to a 17-year high as inflows swelled. The Taiex slid 0.8% as of 11:21am local time, poised for its lowest close in a month.Apple iPhone 8 pre-orders are “substantially lower” than iPhone 7 and iPhone 6 levels, Rosenblatt Securities analyst Jun Zhang wrote in a note last week. Initial feedback suggests iPhone 8 volume is below predecessors in the US and even more so in China, according to Zhang.Hon Hai was down 1.9% in Taipei.

Source: The Star September 25, 2017 03:56 UTC