Apple's suppliers extend drop in Greater China, tracking Wall St losses

Catcher Technology Co

04/01/2019 02:44

(Updates with chart, analyst quote)
    ** Shares in Apple Inc's suppliers in Greater China extend
decline, following losses in the iPhone maker's shares on Wall
Street
    ** Apple  AAPL.O  shares plunged 10 percent on Thursday
after the iPhone maker blamed weak China demand for a
holiday-quarter revenue shortfall, with many investors worried
the rare stumble was a harbinger for slowing global growth
 urn:newsml:reuters.com:*:nL3N1Z330L
    ** Apple's forecast cut could have certain impact on the Q4
performances of Chinese mobile phone parts makers with high
proportions of revenue from Apple, including AAC Technologies,
Luxshare Precision, Foxconn Industrial Internet and Shenzhen
Sunway Communication, investment bank China International
Capital Corp Ltd (CICC) writes in report
    ** Taiwan's Foxconn  2317.TW , Apple's biggest iPhone
assembler, slides as much as 2.6 pct to a more than five-year
low, having tumbled ~55 pct from a record high hit in June 2017
    ** Also in Taiwan, the integrated touch display provider
General Interface Solution  6456.TW , casing maker Catcher
Technology  2474.TW  and lens set maker Largan Precision
 3008.TW  slump in the range of 3.1-6.3 pct
    ** On the Chinese mainland, Suzhou Dongshan Precision
Manufacturing  002384.SZ  leads the decline, diving as much as
9.8 pct to a near four-year low, following an up to 10 pct loss
the previous session, while Shenzhen Sunway Communication
 300136.SZ , provider of internet solutions Luxshare Precision
 002475.SZ , optical firm O-Film Tech  002456.SZ  and electronic
components maker Lens Technology  300433.SZ  fall by 1.7-2.5 pct
    ** In Hong Kong, acoustic component maker AAC Technologies
 2018.HK , Sunny Optical Technology  2382.HK  and BYD Electronic
International  0285.HK  each down ~2 pct    

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Apple suppliers in Greater China    https://tmsnrt.rs/2SBdYbJ
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 ((luoyan.liu@thomsonreuters.com; Reuters Messaging:
luoyan.liu.thomsonreuters.com@reuters.net))