Local electronics manufacturers are likely to move higher in the fourth quarter of this year on the launch of new devices by international brands, analysts said yesterday.
The market has embraced high hopes that Apple Inc’s next iPhone, expected later this month, will benefit suppliers in particular, attracting buyers to their shares on the local bourse, they said.
Hsiao Hui-chung (蕭惠中), the fund manger of the Allianz Global Investors Taiwan Intelligence Trends Fund, is one of the upbeat analysts who expects “Apple concept stocks,” Taiwanese suppliers to the US firm, could serve as a force to carry the broader market over the next three months.
Apple has issued an invitation to the press to attend an event scheduled for Tuesday next week, which is rumored to be an unveiling for the next generation of the iPhone and perhaps even an iWatch.
Hsiao said that foreign institutional investors remained optimistic about the local bourse and could continue to inject funds into the local market in the fourth quarter.
Among the Apple concept stocks are the world’s largest contract electronics maker, Hon Hai Precision Industry Co (鴻海精密), which assembles iPhones and iPads, smartphone camera lens supplier Largan Precision Co (大立光) and metal casing firm Catcher Technology Co (可成).
Shen Wan-jun (沈萬鈞), fund manager at the Capital High Tech Fund, said that he is also looking forward to the gains posted by these Apple concept stocks.
Shen added that local electronics stocks could ride a back-to-school buying spree this month.