Guo Mingyu, an analyst at Tianfeng international, believes that since the shipment of airpods in the fourth quarter of 2021 was better than expected, reaching about 27 million units (a quarter on quarter increase of 107% and a year-on-year increase of 20%), the shipment of airpods in 2022 was revised to 90 million units (a year-on-year increase of about 25%), which was significantly better than the 65 – 75 million units expected by the market. In the first quarter of 2022, airpods shipments were not weak in the off-season, driven by strong demand, and the shipments were almost the same as those in the fourth quarter of 2021. Airpods shipped better than expected for two consecutive quarters, which proves that Apple's product strategy is correct. We are optimistic about the demand of airpods Pro 2 and the trend of integrating health management functions of airpods in the future, and believe that Luxshare Precision Industry Co.Ltd(002475) and Goertek Inc(002241) are the biggest winners. It is also suggested that investors can pay attention to suppliers with large share price correction in the fourth quarter of 2021 / the second half of 2021 due to weak airpods shipments, including: Gigadevice Semiconductor (Beijing) Inc(603986) , xinrixing, Xuande, Zhending, varta and Amkor.
(Securities Times)
