Futu News reported on September 23 that Apple concept stocks retreated higher and lower in early trading today. As of press release, Shunyu fell 6.02% from a one-year high, Tongda Group fell 5.88%, Ruisheng Technology fell 5.79%, Qiutai Technology and BYD Electronics fell more than 4%, and Gaowei Electronics and Fuzhikang Group fell more than 3%.

Despite the pullback in Apple's concept stocks, Apple's new iPhone 11 officially went on sale last Friday, and Apple stores around the world once again had long queues to buy phones. The turnover of the JD iPhone 11 series increased 200% year over year.

J.P. Morgan also released a report saying that the extended delivery period for Apple's latest flagship phone, the iPhone 11, indicates that demand for new iPhone models is higher than supply chain expectations. The strong pre-order momentum of the iPhone 11 has also “dampened the risk of the 2019 product cycle”. Currently, sales of this year's models in the second half of 2019 are expected to be 64 million units. Compared to the 2018 iPhone XR, the iPhone 11 went on sale earlier, which also helped curb the risk of sales, which could bring more added benefits if this momentum continues.

J.P. Morgan maintained its forecast of 184 million Apple phones shipped in 2019, adding that this figure could reach 195 million units in 2020, and resumed quarterly year-on-year growth in the second quarter of 2020.