Bloomberg: Our Apple narrative could be wrong

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Paging Emily Litella.

 

From Top Apple Suppliers Post Solid Sales as iPhone Concerns Persist by Bloomberg’s Debby Wu:

While reflecting just 30 days of business, TSMC’s and Hon Hai’s performance comes in the middle of the year’s busiest quarter and may help balance the narrative that Apple’s latest line-up—particularly the cheapest iPhone XR—is falling flat with global consumers. Hon Hai’s November revenue of NT$601.4 billion ($19.5 billion) was a record for the month and takes January-November sales growth to almost 16 percent— on track for its fastest pace of annual growth in years.

My take: I count at least a half-dozen Bloomberg stories about why weak results at Lumentum spelled doomed for Apple. Am I the only one who thinks the business wire service is soft-pedaling what seems like bigger news? To summarize the November results:

  • Hon Hai (up 5.6%) is the world’s largest electronics manufacturer and the largest assembler of iPhones. Apple, its biggest customer, accounts for nearly half its revenue.
  • Pegatron (up 43%), the main manufacturer of the iPhone XR, gets half its revenue from Apple.
  • TSMC (up 5.6%) is the sole supplier of the series A3 chip that powers the iPhone X line. A fifth of its revenue comes from Apple.

See also: Hon Hai had a boffo November. Hello, Bloomberg?