Apple's earnings report | See Taiwan factory three hidden troubles

Yesterday’s earnings report released last quarter, although revenue and profit outperformed analysts’ expectations, iPhone’s sales only increased by 3% year-on-year and quarterly revenue decreased by more than 30%. Average ASP (ASP) was lower than Wall Street’s estimate, and Apple’s service The three major signals, such as the surge in business and continued enhancement of related businesses, have become three major concerns faced by the Taiwanese supply chain, which is dominated by hardware manufacturing.

After the publication of Apple’s financial report, US stocks rose more than 3% after the close of the week and rose again by 4% in early trading on Wednesday. However, the stocks of Taiwan Pingyi stocks did not show any enthusiasm yesterday. The indicators stocks such as Hon Hai, TSMC, GIS, and Jade Jingguang all received a blackout. Selling more than 10,000 copies of Hon Hai and TSMC each; TPK, but also a small increase of 1% in revenue; Tali only rose by more than 6%, and Shuo is about 2% higher.

Apple's iPhone last quarter sales of 5,221.7 million, the quarter by 32%, annual growth of about 3%. While Apple's old machines still contribute some sales, but the new machine point of view, only a year ago Apple iPhone 7, iPhone 7 Plus two new machines, but this year there are iPhone 8, iPhone 8 Plus, iPhone X three new machines, the 'three for two' below the previous quarter, overall sales increase of only 3%, but also greatly reduced compared with the previous quarter More than 30% is the first signal.

Analysis of the industry, in terms of supply chain, originally put into production lines for the new models deployment, preparation components are driven by high demand for the new machine to prepare, but only on a quarter by quarter iPhone 3%, the supply chain was the deployment of follow-up preparation, while the quarter by 32%, reducing the number of shipments, the supply chain of production capacity utilization, is a big shock.

The second signal is that the average selling price of Apple in the previous quarter was 728 US dollars, which was lower than Wall Street’s expected price of 742 US dollars. Wall Street's forecast mainly comes from the estimated high price of iPhone X. The iPhone X’s quarterly listing price is the average selling price. 796 US dollars, showing that the high price of the iPhone X is still an important threshold for its increase in sales.

According to the report of the US Consumer Intelligence Research Institute (CIRP), iPhone 8 and iPhone 8 Plus accounted for 44% of Apple's mobile phone sales in the previous quarter, and iPhone 2 and iPhone 7 Plus in the previous generation also added 20%, while iPhone X sales only It accounts for 16% of all iPhones. The high-profile sales of the iPhone X have not grown significantly and it is impossible to call for better profits in the supply chain.

The third signal is that Apple’s service revenue including Apple Music, App Store and iCloud last quarter was US$9.1 billion, which was better than expected. Apple even predicted that the service business will grow to 50 billion yuan annually by 2021. Dollar, With Apple focusing on non-hardware products, while continuing to maintain cost reduction strategies in hardware, Taiwanese factories will not be able to absorb the growth of Apple's non-hardware business and continue to bear the bargain.

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