Apple concept stocks in Hong Kong stocks continued to fall after opening today. As of press time, Gaowei Electronics (01415.HK) has fallen by more than 7%, Qiu Titanium Technology (01478.HK) has fallen by more than 6%, Sunny Optical Technology (02382.HK) has fallen by more than 4%, and AAC Technology (02018.HK) and BYD Electronics (00285.HK) have followed suit.
On the news, due to expectations of weak demand for the latest iPhone 15, analysts at Barclays downgraded Apple's stock rating to underweight, causing market shock.
Affected by this news, Apple's stock price closed down 3.58% on Tuesday, the largest one-day decline since August 4, 2023, and hit a new low in the past two months. Its market value evaporated by more than 100 billion US dollars overnight.
Barclays pointed out in its report that Apple’s iPhone 15 is currently experiencing sluggish sales and is expected to experience similarly weak sales due to a lack of attractive new features.
What’s even more noteworthy is that Apple’s sales have experienced year-on-year declines for four consecutive quarters due to the global economic slowdown. With the iPad tablet, Mac computer and other product lines declining, the iPhone has become the main support for Apple's hardware business.
This also explains why the market reacted so strongly to Barclays's downgrade of Apple's rating. In addition, Barclays also predicts that Apple’s service business revenue growth will not exceed 10% this year.
On the other hand, the Apple concept sector of Hong Kong stocks has experienced a round of rising prices previously stimulated by the news of the release of Apple's MR equipment.
Historically, the consumer electronics sector has a tradition of good returns. As the release date of Apple MR approaches, the related risks are also worthy of vigilance. According to supply chain sources, Apple Vision Pro is expected to be launched in the United States on January 27.