Market Insight | Q TECH falls more than 5%, leading the decline in Apple concept stocks. Buffett sells nearly half of his Apple shares. Fuli Rui claims that the Q3 growth of the fruit chain may fall short of expectations
Concept stocks related to Apple fell across the board in the morning, with Q TECH leading the decline by over 5%, as Fubon Securities stated that the growth of the Apple supply chain in Q3 may fall short of expectations. Buffett sold nearly half of his Apple shares, and the growth of the Apple supply chain in the third quarter may be lower than expected
According to the news from Zhitong Finance APP, Apple concept stocks fell across the board in the morning session. As of the time of publication, Q TECH (01478) fell by 4.8% to HKD 3.97; BYD Electronics (00285) fell by 3.07% to HKD 28.4; Sunny Optical Technology (02382) fell by 2.38% to HKD 40.95; and Fortune Shipholding Group (02038) fell by 2.5% to HKD 0.78.
On the news front, according to data released by Berkshire Hathaway on Saturday, the company reduced its Apple holdings by nearly half in the second quarter, with its stake value dropping from around $140 billion at the end of March to about $84 billion currently. Many analysts believe that this reduction is more for risk management needs rather than questioning Apple's long-term prospects. It is worth noting that at the annual shareholders meeting in May, Berkshire revealed that it had reduced its Apple holdings in the first quarter, with Buffett hinting to investors at the time that the reduction was related to tax considerations.
In addition, a recent report by Fubon pointed out that China's smartphone shipments in June increased by 14% year-on-year but decreased by 17% month-on-month. This data is lower than sales volume forecasts for the first time this year, indicating high inventory levels. iPhone shipments decreased by 43% month-on-month, possibly due to high inventory levels. The bank predicts that the parts preparation for iPhone 16 will not see significant growth year-on-year. If the production volumes of iPhone 14 and 15 continue to decline in the next two months, the growth of Apple's supply chain in the third quarter may be lower than expected