Shares of Apple Inc's suppliers in Asia saw a rise on Friday following a positive after-hours performance by the tech giant, which reported quarterly earnings that exceeded expectations and forecasted revenue growth for the current quarter.

Apple Inc (NASDAQ:AAPL) experienced a 6% surge in extended trading after reporting a smaller-than-expected decline in profit and revenue for the March quarter. Additionally, the company stated it anticipates mild revenue growth in the June quarter.

The optimistic outlook from Apple suggests potential increased demand for its suppliers.

In Taiwan, major suppliers TSMC (TW:2330) (NYSE:TSM) and Hon Hai Precision Industry Co Ltd (TW:2317) (Foxconn) saw gains of 1.5% and 2.3%, respectively. These companies provide electronic components to Apple, with Foxconn also responsible for iPhone assembly.

In South Korea, LG Innotek Co Ltd (KS:011070), a producer of 3D sensing modules for Apple, experienced a surge of 4.3%. Apple accounts for approximately 70% of LG Innotek's sales, particularly following the closure of South Korean conglomerate LG's smartphone division.

Samsung Electronics Co Ltd (KS:005930), a significant competitor to Apple that also supplies displays and memory chips to the company, saw a rise of 0.8%. Memory chip supplier SK Hynix Inc (KS:000660) also increased by 1%.

In Hong Kong, AAC Technologies (OTC:AACAY) Holdings Inc (HK:2018), which provides acoustic components to Apple, witnessed a surge of 3.6%.

Many of these stocks had experienced declines leading up to Apple's earnings, with concerns in the market about a potential significant sales decline for Apple due to heightened competition in major markets such as China.

While Apple's iPhone sales did fall short of expectations, earnings were supported by strong performance in its services segment and steady accessory sales.

CEO Tim Cook informed Reuters that Apple anticipates low single-digit revenue growth in the June quarter, marking an improvement from four consecutive quarters of revenue declines.

However, the company provided limited insights into its plans for integrating artificial intelligence, despite its widespread adoption by competitors. Analysts predict that AI integration could be a key driver for future iPhone sales.

Paraphrasing text from "Investing" all rights reserved by the original author.