Apple’s AirPods Fire Up One of Asia’s Top Stocks in 2019
- Luxshare is making big gains from producing tiny AirPods
- Wearables expected to take over from iPhone as growth driver
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Luxshare Precision Industry Co. has more than tripled this year, outperforming virtually every major stock traded in the Asia Pacific and underscoring the importance of a certain Apple Inc. product the Chinese company assembles: AirPods.
Commanding a 50% share of the nascent true wireless earphones market -- defined by earbuds that have no wired connection between each other or to the music source -- Apple’s AirPods have quickly become an important growth driver for the Cupertino, California company. Wearables are Apple’s fastest-growing category, up 41% in 2019, and are filling in for the iPhone as the company’s growth driver for hardware sales, Bloomberg Intelligence analyst John Butler said.