The Latest 'Apple Barometer' Is In
Cantor Fitzgerald issued an industry report on Taiwan barometer sales, specifically highlighting suppliers for Apple Inc. (NASDAQ: AAPL).
Analysts Brian White and Isabel Zhu noted that barometer sales declined sharply in February and well below seasonality. Final Apple Barometer sales in February fell by 37 percent month-over-month and were much weaker than the average decline of 15 percent over the past 10 years.
Apple's largest supplier, Hon Hai, reported a 29 percent month-over-month sales decrease during February, weaker than historical seasonality of a 16 percent decline over the past 10 years.
Another Apple supplier, Pegatron, which is an important supplier to the iPhone 6, reported a 41 percent month-over-month sales decrease during February. This is compared to a 36 percent decline in February 2014.
Recent news out of Taipei noted that one of the world's biggest electronics manufacturers, Hon Hai Precision Industry Co., posted higher sales for the first quarter of this year, compared with the same period last year, due to solid demand for Apple's new iPhone models, the iPhone 6 and the iPhone 6 Plus. Even though Android phone production was higher as well, it was Apple's smartphones that drove profit.
Analysts said that strong demand for the iPhone 6 family extended to the first quarter of this year from the fourth quarter of last year, helping Hon Hai record a more than 14 percent year-on-year sales increase for the three-month period.
Shares of Apple recently traded at $128.23, up 0.88 percent.
Latest Ratings for AAPL
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