Market Analysis | Q TECH falls more than 5%, leading the decline in the Apple concept. Uncertainty remains over the demand for phone upgrades in the second half of the year despite Apple Intelligence's boost

Concept stocks related to Apple collectively fell. As of the time of publication, Q TECH fell by 5.11% to HKD 4.46; Tongda Group fell by 2.44% to HKD 0.08; High Wealth Electronics fell by 2.19% to HKD 22.3; Sunny Optical fell by 2.21% to HKD 46.55. On the news front, Guo Mingchi of TF International Securities recently wrote that despite occasional news of Apple increasing iPhone 16 orders in the market after the June WWDC, there are doubts based on the latest statements from suppliers. TSMC stated that they have not seen a sudden increase in sales, while Largan Precision indicated that orders for high-end models this year are similar to last year. In addition, Guo Mingchi mentioned that currently, Apple Intelligence is only available in beta for testing by U.S. users, casting doubt on whether it can boost replacement demand in the second half of the year. The expectation that consumers will purchase the new iPhone 16 for testing the beta version of Apple Intelligence in the second half of the year may be overly optimistic