Major Apple suppliers see sales grow 29 percent in October
updated 01:28 pm EST, Thu November 8, 2012
Credit goes to series of new Apple products released this fall
A group of major Apple suppliers in Taiwan collectively saw sales grow 29 percent year-over-year in October, says Topeka Capital Markets analyst Brian White. The figure is said to beat an average two percent growth during the last seven October reports, and a one percent decrease for the month of September. The achievement is credited to the sheer number of products Apple has launched recently, including the iPhone 5, the iPad mini, new iPods, new Macs, and a fourth-generation iPad.
White estimates that the new products will account for 80 percent of Apple sales during the holiday buying season. "The iPhone 5 and iPad mini are blockbuster new products that we believe will prove to be big hits this holiday season and into 2013, combined with the new iPad, MacBook Pro, iMac and iPod lineup," he comments.
The suppliers in question are based in Taiwan, and are believed to generate much of their revenue from Apple orders. As a result, their performance can potentially reflect Apple's health.
White is meanwhile downplaying the current plunge of Apple shares, which in recent weeks have slid in cost from over $600 to below $550. He is reiterating a 12-month price target of $1,111, one of the highest set by any Apple analyst.
