Apple helps Taiwan exports unexpectedly rise in August due to iPhone launch: report
Remains

Apple (NASDAQ:AAPL) helped Taiwan's export orders rise in August unexpectedly, as the tech giant unveiled several new products this month, including its iPhone 14 lineup, Reuters reported, citing data from the country's Ministry of Economic Affairs.
Taiwan's exports rose 2% year-over-year in August to $54.59B, compared to an expected decline of 2% year-over-year. In July, exports from the island nation fell 1.9% year-over-year.
Breaking the report down, Taiwan's orders from China fell 25.5% year-over-year, compared to a decline of 22.6% year-over-year in July, as the world's second biggest economy continues to grapple with outbreaks of COVID-19 and related lockdowns.
Orders from the U.S. rose 7.5% year-over-year, up from a 6.9% rise in July, while Europe export orders rose 14.6% in August, compared to a decline of 5.1% in July. Orders from Japan rose 2.2% in August, Reuters added.
The launch of Apple's (AAPL) new devices, as well as other consumer electronics, spurred a 15.4% rise in orders for electronic products, as companies such as Taiwan Semiconductor (NYSE:TSM), which makes chips for Apple (AAPL), continued to see strong demand for semiconductors.
Taiwan Semiconductor (TSM), which has been in the spotlight due to geopolitical tensions between the U.S. and China, is the world's largest chip manufacturer and produces chips for other companies such as Nvidia (NVDA), Advanced Micro Devices (AMD), Qualcomm (QCOM) and others.
Cupertino, California-based Apple (AAPL) is slated to raise app prices in Europe and Asia next month as currencies around the world have weakened in the face of a rising U.S. dollar amid rising inflation and economic uncertainty.