Key insights
- Reports indicate Apple's foldable phone is on track for a September 2026 debut alongside the iPhone 18, boosting shares of Asian suppliers like Foxconn and TSMC. This suggests continued revenue streams for Apple's supply chain, positively influencing AAPL sentiment and potentially driving moderate gains in the US technology sector.
Investing.com-- Apple Inc’s (NASDAQ:AAPL) Asian suppliers rose on Wednesday after a report said the company’s first foldable phone is still on track to arrive during its regular iPhone launch period in September this year.
Contract electronics giant Hon Hai Precision Industry Co Ltd (TW:2317), better known as Foxconn, jumped 4.5%, while chip giant TSMC (TW:2330) added 4.6%.
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China’s Lens Technology Co Ltd (SZ:300433), Goertek Inc (SZ:002241), and Luxshare Precision Industry Co Ltd (SZ:002475), jumped between 4% and 6%, while AAC Technologies Holdings Inc (HK:2018) added 5.7% in Hong Kong trade. The three supply camera, audio, and other iPhone components to Apple.
Japan’s Murata Mfg Co (TYO:6981) added 5.1%, while South Korea’s LG Innotek Co Ltd (KS:011070) added 5.8%.
Apple’s first foldable phone is still on track to arrive by September 2026, Bloomberg reported on Tuesday, refuting recent concerns over manufacturing snags.
Apple will introduce the foldable model in September along with the iPhone 18 line. A Nikkei Asia report on Tuesday said the company was facing some challenges in the engineering test phase of the foldable, which threatened to delay production.
Apple’s major suppliers stand to benefit from any new phone models from the company, given that they entail more part orders. The success of Apple’s iPhone 17 line had also spilled over into its major suppliers.