Some Apple Suppliers Lacked Stock Price Gains in 2013
Being a supplier to the world’s most valuable company doesn’t necessarily translate into a stock price boost. As shown in supplier data recently compiled by Bloomberg, most of the suppliers that derive a majority of their income from Apple (NASDAQ:AAPL) saw their share prices decline over the past year.
According to Bloomberg, the six suppliers most dependent on Apple’s orders are Cirrus Logic (NASDAQ:CRUS), Dialog Semiconductor Plc (DLGNF.PK), Hon Hai Precision Industry (also known as Foxconn), Multi-Fineline Electronix (NASDAQ:MFLX), TPK Holding Co., and Wintek Corp. While Apple’s shares have climbed 3.5 percent this year through December 18, most of the iPhone maker’s suppliers have seen their share prices drop over the same time period.
As noted by Bloomberg, Cirrus Logic, Multi-Fineline Electronix, TPK Holding Co., and Wintek Corp. have all sustained stock price drops of at least 30 percent during 2013. Hon Hai Precision Industry, which derives approximately 50 percent of its revenue from Apple, saw a relatively minor decline of 2.2 percent.