HK Stock Market Move | Apple concept stocks fell across the board. Guo Mingchi claimed that sales of the iPhone 16 series were lower than expected. Fubon Securities predicts that the supply chain's stock prices will face pressure in the coming months.

Apple concept stocks fell across the board. As of press time, TONGDA GROUP (00698) dropped 7.04% to 0.066 Hong Kong dollars; Q TECH (01478) dropped 3.64% to 4.23 Hong Kong dollars; COWELL (01415) dropped 2.4% to 20.35 Hong Kong dollars; SUNNY OPTICAL (02382) dropped 0.34% to 43.35 Hong Kong dollars. In terms of news, Tianfeng International Securities analyst Guo Mingji released a report stating that the sales of the iPhone 16 series were lower than expected. Guo Mingji stated that the pre-order sales of the iPhone 16 series during the first weekend were approximately 37 million units, a decrease of about 12.7% compared to the iPhone 15 series in the same period last year, falling below Apple's expectations. Guo Mingji believes that the key reason for the lower than expected sales of the iPhone 16 Pro series is that Apple's major selling point, Apple Intelligence, was not launched simultaneously with the iPhone 16 release, and intense competition in the Chinese market has also reduced the demand for iPhones. Previously, Credit Suisse released a research report stating that they still believe that Apple's artificial intelligence, Apple Intelligence, will have a high competitive advantage over Android platform smartphones. However, they predict that the process of implementing the technology will be evolutionary, requiring time to establish hardware support such as high-speed memory and advanced packaging. The technology may not be available until 2026, causing Apple to gradually introduce artificial intelligence features. Therefore, the bank believes that the upgrade cycle will accelerate over the next few years, and market expectations for iPhone 16 sales will return to normal, putting short-term pressure on the stock prices of iPhone supply chain companies.