Apple Supplier Tops China Tech Stocks, Rising 23% This Month
- BYD Electronic has jumped on earnings, hopes for EV business
- Market may price in inorganic growth from Jabil deal: Citi
This article is for subscribers only.
A unit of electric-vehicle maker BYD Co. that also supplies parts for Apple Inc. has climbed 23% this month, making it the best performer on a benchmark of Chinese technology stocks.
BYD Electronic International Co. has risen on strong earnings as well as expectations for its auto and smartphone component businesses. The company recently announced plans to buy Jabil Inc.’s manufacturing business in China, and the market may also begin to “factor in the inorganic growth opportunity,” Citigroup Inc. analyst Andre Lin wrote in a note.