Apple's Taiwanese Suppliers Saw Sales Fall 13% in June
Apple's Taiwanese suppliers saw their sales fall 13% in June, reports Topeka analyst Brian White.
Sales among the suppliers were down 13% month over month in June compared to average increase of 1% over the past seven Junes, notes FORTUNE. For the June quarter sales were down 8% sequentially which is slightly better than Apple's guidance of a 13% decline.
White notes that weakness among the supplier's other customers may be partially to blame for these numbers.
We continue to believe that there is no better tech company to own during this uncertain environment, and heading into the second-half of the year, than Apple. Even during the financial crisis of 2008-2009, Apple grew revenue by 40% in CY08 and 20% in CY09 versus declines of 20-30% across the tech world. This year is also unique in that we believe Apple is poised for the biggest second-half product launch in its history with our expectation of an iPhone 5 and an "iPad Mini", combined with the potential for an Apple TV. We also look forward to the potential addition of China Mobile (CHL) during the first half of 2013, providing plenty of excitement for investors.