Wednesday, October 5, 2011

'Apple concept stocks' mixed on Jobs' death

Taipei, Oct. 6 (CNA) Local stocks in Apple Inc.'s supply chain, or the so-called "Apple concept stocks", were mixed on the Taiwan Stock Exchange in Thursday morning trade after the news of the death of Apple's co-founder Steve Jobs surfaced, dealers said. They said there have been fears that Apple will be losing its innovative capability without Jobs and take a detour by entering price competition to attract buying, a change in strategy which may create an impact on contract component makers' bottom lines. As of 11: 30 a.m., cell touch panel maker TPK lost 1.99 percentto NT$543.00 (US$17.7), battery producer Simplo Technology shed 2.49 percent to NT$176.00, and phone camera lens supplier Largan has fallen 3.23 percent to NT$631.00. However, Hon Hai Precision, the flagship company of the world's largest contract electronics maker Hon Hai Group, gained 2.96 percent to NT$69.60. The group churns out iPhones and iPads for Apple. Hon Hai's affiliate Foxconn Technology Co. rose 1.23 percent to NT$98.00. "The launch of iPhone 4S has prompted many investors to worry that innovation at Apple is fading as its new gadget has dashed market expectations of a radically redesigned iPhone 5," Horizon Securities analyst Benson Huang said. Rather than maintaining its innovative capability to win market share, Huang said, the market has been surprised by Apple's announcement that it will cut the prices of iPhone 4 and iPhone 3GS dramatically after the iPhone 4S debut. "Now, the death of Steve has further raised such a concern as many investors have feared that Apple will come up with further price cutting measures," Huang said.

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1 comment:

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