AirPods Maker Sales Surge 79%, With More Growth Expected
- Luxshare drew several analyst price-target upgrades Wednesday
- The company is among the largest of Chinese hardware makers
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Luxshare Precision Industry Co. drew a series of analyst price upgrades after the Chinese assembler of Apple Inc.’s AirPods revealed a roughly 80% surge in first-half profit and sales.
The company, regarded as a bellwether for China’s consumer hardware industry, is expected to become an increasingly important supplier of components for wearable devices like the Apple Watch, some analysts say. Goldman, CICC and Morgan Stanley were among the investment houses that lifted their stock price target on the consumer hardware firm after it posted results late Tuesday.