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Demand For iPhone 7 Is Expected To Boost Taiwan's Exports

Demand For iPhone 7 Is Expected To Boost Taiwan's Exports

According to Reuters, Taiwan's exports unexpectedly fell in September, but electronic components grew in the month in anticipation of the all-important holiday shopping season.

Reuters noted that exports fell 1.8 percent on a year-over-year basis in September, which fell notably short of the 3.2 percent growth experts polled by Reuters were expecting. In addition, the decline marks a reversal from the previous two months which saw growth.

On the other hand, electronic component exports, including semiconductors, rose 16.8 percent in September compared to a year ago. Reuters cited Kevin Wang of Taishin Securities Investment Advisory, who attributed September's notable component exports to Apple Inc. (NASDAQ: AAPL)'s launch of the iPhone 7, which offered a "big contribution."

Related Link: Bad News All You Global Device Fans: Market Expected To Decline For Second Year In A Row

Taiwan Semiconductor Mfg. Co. Ltd. (ADR) (NYSE: TSM), a major supplier to Apple, said that its September sales spiked nearly 40 percent from a year ago. However, its September sales did mark a decrease of 4.9 percent from August's levels.

"Despite disruption by the typhoon, electronics components continued to show growth," Reuters quoted a ministry official, Beatrice Tsai, as saying during a briefing with reporters. "It is only temporary. There is no need to worry about it too much."

At last check, Taiwan Semiconductor was up 1.25 percent at $31.17.

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