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Apple Camera Supplier Earnings Paint Rosier Picture Of iPhone Sales

AAPL – Apple camera lens manufacturer posts significant profit, shedding doubt on iPhone order cuts.

According to the latest earnings report from a major Apple Inc. (NASDAQ:AAPL) iPhone camera supplier, early indications of weak iPhone sales may have been a bit premature.

That’s because high-resolution camera sales from Largan hit the highest level in more than a year, with the bulk of its sales coming from iPhone parts. From Apple Insider:

On Thursday, Apple’s iPhone 7 camera lens module maker Largan Precision reported consolidated revenues of NT$5.446 billion ($170 million) for December, the highest monthly level since the last peak in November 2015. The figure is up 4.58% from November and 36.87% year-over-year.

The numbers are solely from the iPhone 7, and other sales. It is too early for any “iPhone 7S” or “iPhone 8” orders to be affecting the earnings for the company.

This information flies in the face of several reports last month of weakening numbers from other iPhone component suppliers. With so much conflicting info hitting the wires recently, it’s prudent to not read too much into the reports. However, this new information does lend some credence to the idea that iPhone sales probably aren’t nearly as bad as many had feared.

Apple Inc. shares rose $0.04 (+0.03%) in premarket trading Friday. Year-to-date, AAPL has gained 0.67%, versus a 1.36% rise in the benchmark S&P 500 index during the same period.

AAPL currently has an StockNews.com POWR Rating of A (Strong Buy), and is ranked #1 of 24 stocks in the Technology – Hardware category.

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