An extensive supply chain in China that supports US consumer electronics giant Apple is facing significant disruptions from new tariffs imposed by US President Donald Trump, as share prices of major contract manufacturing partners fell by the maximum daily limit across the country’s stock markets on Thursday.
Shenzhen-listed Goertek, an acoustic components manufacturer based in eastern Shandong province, dropped 10 per cent to its lowest level this year. Similarly, Luxshare Precision Industry declined 10 per cent, while Lens Technology plunged 10.6 per cent.
The Shanghai Composite Index lost 0.2 per cent, while the Shenzhen Composite Index fell 1.4 per cent.
Goertek, Luxshare and Lens Technology are often referred to as the “three musketeers” of Apple’s supply chain due to their significant ties to the iPhone maker, although specific details about their business relationships remain undisclosed. Apple’s chief operating officer Jeff Williams visited Goertek and Luxshare last week, according to statements from the suppliers.
In Hong Kong, Cowell E Holdings plummeted 17.8 per cent, Sunny Optical Technology Group slid 6.6 per cent, while BYD Electronic International sank 8.7 per cent.
