Apple camp suppliers may face near-term weakness

■ According to a Bloomberg article, Apple told its component suppliers that demand for the iPhone 13 lineup has weakened.
■ This is no evidence yet about w eaker iPhone shipments, but as we discussed in our previous industry update, component names in the Apple camp may offer a negative surprise, as profitability remains key.
■ The Oct 21 China shipment f igures may indicate stabilization in 4Q21, which is positive for Android camp component suppliers.
■ The coming Nov 21 revenue figures by Taiwanese names will be a catalyst for the market. We reiterate the view that the market is looking f or new growth drivers for the hardware sector, such as auto electronics and the metaverse.
■ The analysis in this report is based on industry and macro figures and may differ from the views of individual analysts, in some cases.