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Apple's iPhone 16 Series Launch to Boost Key Suppliers
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Apple's iPhone 16 series launch is expected to boost several supplier stocks, according to Bank of America. The bank anticipates a production run of 90-100 million units in the second half of this year, slightly higher than last year's 90 million. Key features rumored for the iPhone 16 Pro include a larger screen and a periscope camera.
BofA's top picks include:
- Hon Hai Precision (Foxconn): The largest contract electronics manufacturer. BofA raised its price target to 260 New Taiwan dollars, expecting a 15.3% upside.
- Foxconn Industrial Internet: A subsidiary focusing on iPhone cases. BofA lifted its earnings forecast for 2024-26, anticipating a 13.8% stock rise.
- Luxshare Precision: A Chinese electronics maker with significant exposure to various iPhone components. BofA increased its price target to 46 Chinese yuan, predicting an 11.1% upside.
- BYD Electronic: Expected to benefit from consolidating its iPhone casing business. BofA set a price target of 42 Hong Kong dollars, forecasting a 25.3% potential gain.
These companies are poised to capitalize on the iPhone's evolution, driven by design changes and AI functions.
| Scores | Value | Explanation |
|---|---|---|
| Objectivity | 6 | Comprehensive reporting with in-depth analysis. |
| Social Impact | 4 | Influences public opinion in tech and finance sectors. |
| Credibility | 5 | Solid evidence from authoritative sources. |
| Potential | 5 | High potential to trigger market changes. |
| Practicality | 4 | Highly practical for investment decisions. |
| Entertainment Value | 3 | Some entertainment value for tech enthusiasts. |