Apple-Inspired Rally in Taiwan Stocks Seen Faltering on Earnings
- Taiex Index projected to rise 3% by year-end in Bloomberg poll
- Newspaper report about iPhone 7 orders sent shares surging
What Apple's New iPhone Screens Mean for Users, Suppliers
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The biggest rally in Taiwan stocks in eight months will peter out as slowing earnings and uncertainty over relations with China counter speculation about demand for Apple Inc.’s newest iPhone.
The benchmark Taiex Index will end the year at 8,650, or 3 percent higher than Thursday’s close, according to the median estimate of fund managers and analysts in a Bloomberg survey. The gauge surged 2.6 percent on Monday after the Economic Daily News reported Apple ordered as many as 78 million iPhone 7 units by the end of the year from the island’s companies, citing unidentified suppliers.