Market Insight | Apple concept stocks surge, Gao Wei Electronics up over 4% as Apple sells over 1.5 billion in the first hour

Intellifinance APP learned that Apple concept stocks rose across the board in the morning session. As of the time of publication, GoerTek (01415) rose by 4.39% to HKD 21.4; Sunny Optical (02382) rose by 2.86% to HKD 44.95; BYD Electronics (00285) rose by 2.54% to HKD 34.3; Q Technology (01478) rose by 1.78% to HKD 4.01.

On the news front, on the evening of May 20th, the Tmall 618 promotion kicked off, with the Tmall Apple Store flagship store starting a major price reduction. The iPhone 15 series had the largest promotional discounts, with a maximum direct reduction of 2300 yuan. According to data released by Tmall, Tmall 618 went on sale at 8 p.m. on May 20th, and within the first hour of sales, Apple's transaction amount exceeded 1.5 billion yuan.

Industry insiders pointed out that in the first quarter, iPhone sales significantly declined, hence the need to boost sales through price reductions and promotions. With AI phones becoming a new trend, Apple urgently needs to attract consumers through comprehensive software and hardware upgrades and innovations. IDC released a report stating that global smartphone shipments in the first quarter of 2024 increased by 7.8% year-on-year to 289 million units. Although Apple remains in the global second position, the company's shipment volume in the first quarter of this year decreased from 55.4 million units in the same period last year to 50.1 million units, a year-on-year decrease of 9.6%