Apple supplier stocks fell across the board in the morning session, as of the time of publication, Q Tech (01478) fell by 4.31%, to 4.88 Hong Kong dollars; Sunway Optoelectronics (02382) fell by 2.47%, to 49.4 Hong Kong dollars; BYD Electronic (00285) fell by 1.64%, to 32.95 Hong Kong dollars.
According to the Securities Times APP, Apple supplier stocks fell across the board in the morning session, as of the time of publication, Q Tech (01478) fell by 4.31%, to 4.88 Hong Kong dollars; Sunway Optoelectronics (02382) fell by 2.47%, to 49.4 Hong Kong dollars; BYD Electronic (00285) fell by 1.64%, to 32.95 Hong Kong dollars; Cowell Electronic (01415) fell by 1.24%, to 23.8 Hong Kong dollars.
On the news front, Apple released its financial performance for the fourth quarter of the 2024 fiscal year (ended September 28, 2024). The financial report data shows that Apple's revenue in that quarter was 94.93 billion US dollars, a 6% year-on-year increase; net income was 14.736 billion US dollars, a 35.81% year-on-year decrease, mainly due to a one-time tax expense of 10.2 billion US dollars incurred by Apple earlier this year due to a ruling by the European Union.
In the fourth quarter, Apple's iPhone business overall performance was stable, with revenue of 46.222 billion US dollars, a 5.52% year-on-year increase. However, Apple's Greater China business is under pressure, achieving revenue of 15.033 billion US dollars in the quarter, compared to 15.084 billion US dollars in the same period last year, with analysts expecting 15.8 billion US dollars. Apple expects revenue growth in the first quarter of 2024 to be in the low to mid-single digits.