Understanding the Market | Apple-related stocks surged in early trading as Apple's sales in China saw their first growth in two years. Institutions claim that the short-term upward trend in consumer electronics can still be sustained
Apple concept stocks rose broadly in the morning, with Q TECH up 4.09%, SUNNY OPTICAL up 4.16%, AAC TECH up 3.83%, and BYD ELECTRONIC up 2.21%. According to a Counterpoint report, iPhone sales in China grew by 8% year-on-year in the second quarter, marking the first growth in two years. China International Capital Corporation believes that the short-term upward trend in the consumer electronics industry is sustainable, as the upcoming financial reports may exceed expectations
According to Zhitong Finance APP, Apple-related stocks saw a broad increase in early trading. As of the time of writing, Q TECH (01478) rose 4.09% to HKD 8.9; SUNNY OPTICAL (02382) rose 4.16% to HKD 71.35; AAC TECH (02018) rose 3.83% to HKD 40.7; BYD ELECTRONIC (00285) rose 2.21% to HKD 32.35.
On the news front, according to the latest report from research firm Counterpoint, iPhone sales in China grew by 8% year-on-year in the second quarter. This marks the first sales growth for Apple in China since the second quarter of 2023. The firm noted that in May this year, major domestic e-commerce platforms conducted promotions for electronic products, leading to discounts on Apple's latest product, the iPhone 16. Additionally, Apple has increased the trade-in value for some iPhones in its upgrade program.
Bank of China International stated that in the context of the U.S. lifting the EDA ban and the U.S.-Vietnam trade agreement being reached on the same day, investor sentiment has shifted positively towards the previously sluggish consumer electronics industry. Although many consumer electronics companies' stock prices remain below levels seen before April 2, the bank believes that given the upcoming Q2 2025 earnings report may exceed expectations due to limited actual tariff impacts and U.S. customers stocking up in advance, the current upward trend still has room to continue
