A group of Apple suppliers responsible for supplying parts for the device maker’s future products had their best July ever. Financial experts are attributing the jump to the ramp up for a series of expected new iOS devices that will combine for the “biggest second-half product launches” in the company’s history.
In a research report to clients Thursday, Topeka Capital Markets analyst Brian White said preliminary July sales from the firm’s proprietary ‘Apple Monitor’ rose by an estimated 14% month-over-month, or nearly twice the average increase of 8.5% seen over the past seven years.
The tool tracks sales trends of the Taiwan supply chain at leading Apple suppliers. It is used to supplement White’s own research, rather than a standalone tool, as new product launches and inventory adjustments can skew results.
“This July represents the strongest month-over-month sales growth of any July we have on record over the past eight years for the Apple Monitor,” White said. “[It] was well above the 7% growth experienced last July, supporting our view of an earlier launch of the iPhone 5 versus the iPhone 4S last October.”
In White’s opinion, the data is indicative of several new products coming the consumer’s way, setting up what he calls “the biggest second-half product launch in Apple’s history,” and what other industry analysts believe may be one of the largest product launches of all time.
White says he believes Apple’s stock could hit a $1,111 price target over the next year.
