Understanding the Market | Apple Concept Stocks Generally Decline, Morgan Stanley Moderately Lowers iPhone Shipment Forecast for the First Fiscal Quarter Ending in Late December

Concept stocks related to Apple fell across the board. As of the time of publication, Q Technology fell by 6.25% to HKD 21.75; Sunny Optical fell by 6.07% to HKD 5.11; and AAC Technologies fell by 5.74% to HKD 55.8. On the news front, JP Morgan released a research report stating that the sales of the Apple iPhone 16 series have exceeded one week (pre-orders started on September 13, and the official launch was on September 20). Early indications show strong product performance in this cycle, although the launch of high-end models lacks early momentum compared to previous cycles. Therefore, the bank has lowered its recent iPhone sales forecast, with the current expectation of total iPhone sales in the second half of the year at around 126 million units (compared to the previous forecast of 130 million units and 132 million units a year ago). However, the outlook for the medium-term artificial intelligence cycle remains unchanged, with the recent estimate adjustment only representing a mild increase in sales in the later stages of the cycle. JP Morgan also moderately lowered its forecast for Apple's iPhone shipments for the first fiscal quarter ending December this year to 76 million units