HK Stock Market News | FIT Hon Teng Group retraced more than 9%, after a cumulative increase of over 75% in the previous five trading days. iPhone global shipments in January-March decreased by 9.6%
Foxconn Technology Group has surged more than 75% in the past five trading days, but suddenly retraced by over 9%. In addition, Apple's global iPhone shipments from January to March dropped by 9.6%. Apple is facing doubts about its sales volume, with reports suggesting that its mainland China and Greater China sales may decline more than the global average. Renowned Apple analyst Ming-Chi Kuo pointed out that a supply chain investigation shows that Apple has reduced orders for key upstream semiconductor components for the iPhone 15 and iPhone 16, with total iPhone shipments expected to decline by 15% year-on-year in 2024. The company plans to release lower-priced AirPods headphones later this year, manufactured by a subsidiary of Foxconn. Foxconn Technology Group had previously seen a cumulative increase of over 75% in the past five trading days, but retraced after the news stimulus
According to the Wise Finance APP, Foxconn Technology Group (02038) fell more than 9%, dropping 9.41% to HKD 0.77 by the time of publication, with a turnover of HKD 12.63 million.
On the news front, market research firm IDC released a report stating that Apple's global iPhone shipments from January to March decreased by 9.6%. Since 2024, Apple has frequently faced doubts about its sales volume, with reports suggesting that the decline in sales volume in mainland China and the Greater China region may exceed the global decline. Renowned Apple analyst Ming-Chi Kuo previously stated that a supply chain investigation showed that Apple has reduced orders for key upstream semiconductor components for the iPhone 15 and iPhone 16. Overall, Apple's total iPhone shipments in 2024 will drop to 200 million units, meaning that the year-on-year shipment volume of iPhones in 2024 will decrease by 15%.
Of note, supply chain analyst Jeff Pu recently revealed that Apple plans to release lower-priced AirPods later this year. In a research report, Jeff Pu stated that the new low-cost AirPods will be manufactured by a subsidiary of Foxconn. He pointed out that Foxconn will increase the assembly of AirPods at its Indian factory starting in the fourth quarter of this year. Stimulated by this news, the company's cumulative increase in the previous five trading days exceeded 75%