Understanding the Market | Apple concept stocks lead in gains as Trump imposes an additional 25% tariff on India, directly impacting Apple's manufacturing strategy in India
Apple concept stocks performed strongly, with COWELL rising 9.91%, FIT HON TENG rising 9.21%, Sunny Optical rising 5.65%, and AAC Technologies rising 4.51%. Trump's 25% tariff increase on India may affect Apple's manufacturing strategy in India. According to Canalys data, U.S. smartphone shipments are expected to grow by 1% in 2025, while the proportion assembled in China will decrease to 25%, and smartphones manufactured in India will increase by 240% year-on-year, accounting for 44% of total U.S. imports. Apple's revenue for the third quarter of fiscal year 2025 reached $94.04 billion, a year-on-year increase of 10%
According to Zhitong Finance APP, Apple concept stocks are among the top gainers. As of the time of publication, COWELL (01415) rose by 9.91% to HKD 29.94; FIT HON TENG (06088) increased by 9.21% to HKD 3.32; Sunny Optical (02382) climbed by 5.65% to HKD 78.45; AAC Technologies (02018) went up by 4.51% to HKD 44.94.
On the news front, U.S. President Trump signed an executive order on the 6th, imposing an additional 25% tariff on products exported from India to the U.S. under the pretext of India "importing Russian oil directly or indirectly." This tariff policy may directly impact Apple's manufacturing strategy in India. According to Canalys data, due to trade friction risks, suppliers have been continuously stocking up in advance, leading to a 1% increase in U.S. smartphone shipments in the second quarter of 2025. The share of U.S. smartphones assembled in China dropped from 61% in the second quarter of 2024 to 25% in the second quarter of 2025. India has compensated for most of this decline, with the total number of "Made in India" smartphones increasing by 240% year-on-year, currently accounting for 44% of total U.S. smartphone imports, compared to just 13% in the second quarter of 2024.
Additionally, Apple's Q3 financial report for fiscal year 2025 showed impressive performance, with total revenue reaching USD 94.04 billion, a year-on-year increase of 10%, marking the strongest quarterly revenue growth since December 2021; net profit was USD 23.434 billion, up 9% year-on-year, with diluted earnings per share of USD 1.57, a 12% increase year-on-year. Notably, Apple's revenue from the Greater China region during this period was USD 15.369 billion, a year-on-year increase of 4%, indicating a recovery in the Chinese market
