The mobile phone industry chain has continued its recent upward trend, with Apple's first fiscal quarter results exceeding expectations. According to institutions, the impact of tariffs on the industry chain is limited.

The mobile phone supply chain continued its recent uptrend, with AAC Technologies (02018) up 4.46% to HK$42.15, BYD Electronics (00285) up 3.55% to HK$43.8, Q Tech (01478) up 3.24% to HK$7.96, and Ofilm (02382) up 2.85% to HK$72.25.

On the news front, on January 31, Apple released its 2025 fiscal first-quarter earnings, with total revenue reaching US$124.3 billion, up 4% YoY, setting a new record. In terms of specific product lines, the revenue from iPhones was US$69.1 billion, down 0.9% YoY, slightly lower than the market's expectation of US$71.03 billion. Goldman published a research report saying that Apple's 2025 fiscal first-quarter performance exceeded expectations, and its second-quarter guidance was also better than expected.

CMB International published a research report saying that although the US tariffs on China would bring some uncertainties in the short term, it believes the impact on Apple's supply chain is limited. It still maintains an optimistic attitude towards the replacement cycle of iPhones, expecting that the new AI functions and five new iPhone models to be launched this year will drive the shipment of iPhones in 2025.