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Asian stocks of Apple (NASDAQ:AAPL) suppliers surged Monday after reports revealed strong pre-orders for the new iPhone 17. Apple has asked key partners, including Luxshare Precision (SZ:002475) and Foxconn (TW:2317), to increase production to meet soaring demand. According to The Information, output for the standard iPhone 17 will rise by at least 30%, with Luxshare required to lift daily output by about 40%.
The base model, priced around $799, has exceeded sales expectations, fueling optimism across Apple’s supply chain. As a result, Shenzhen-listed Luxshare shares jumped 10%, reaching their highest level since January 2021, while Taiwan’s Foxconn gained up to 2%. Other suppliers also benefited: Hong Kong-listed Lens Technology (HK:6613) soared 16%, AAC Technologies (HK:2018) climbed over 10%, and South Korea’s LG Display (KS:034220) advanced 3.2% on strong OLED panel demand.
Analysts note that the iPhone 17’s launch momentum is stronger than that of last year’s iPhone 16, based on delivery lead times in major markets. JP Morgan highlighted robust demand not only for the entry-level iPhone 17 but also for Apple’s new super-thin Air model, suggesting a positive outlook for both component orders and supplier revenues.
With Apple’s decision to boost production ahead of the holiday season, supplier stocks across Asia are seeing renewed investor confidence, signaling that the iPhone 17 could deliver one of the strongest upgrade cycles in recent years.
