Apple concept stocks ride to new heights

By Kuan-lin Liu, The China Post with cnYES

TAIPEI, Taiwan — With Apple Inc.’s stock prices closing up 2.1 percent at a record US$146.60 yesterday, shares of Taiwan-based Apple suppliers have also experienced a surge in value according to local media reports on Tuesday.

In particular, Largan Precision (大立光) experienced a bump in stock prices to a record high of NT$5,070, while Hon Hai Precision (鴻海) saw its shares hit NT$100 for the first time in two years.

Other stocks worth mentioning were those of Compeq Manufacturing (萬通), Unimicron Technology (欣興), Kinsus Interconnect Technology (景碩), and Zhen Ding Technology Holding (臻鼎), all of which reportedly make up the main supply chain for the iPhone 8’s carrier board.

While the carrier board for the new handset is still in the testing phase, industry experts are expecting a finished prototype as early as July from Compeq Manufacturing, Unimicron, Kinsus, and Zhen Ding Technology. Yesterday marked the first time since Sept. 25, 2014 that Hon Hai shares closed at the NT$100 mark.

The company, 40 percent of whose total revenue reportedly comes from Apple, received larger than usual buy-ins after Apple’s shares hit an all-time high by rising more than 2 percent to close at US$146.58 on the Nasdaq.

Recently, Hon Hai’s Chairman Terry Gou (郭台銘) made headlines after meeting with U.S. President Donald Trump twice in April to discuss possible investments in the United States.

Investors reportedly “rushed to pick up Hon Hai” after these meetings became public knowledge and together with Taiwan Semiconductor Manufacturing Company (TSMC) and other tech giants, these companies pushed Taiwan’s overall market’s weighted index over the 9900-point mark.

The broader market was reportedly less than 60 points away from hitting the 10,000-point mark.