Copperwired Public Company Limited

Globlex Securities estimates that the Thai stock index will fluctuate in a range of 1,560 to 1,600 points this week, still pressured by crude oil prices and US government bond yields, amid tensions in the Middle East that warrant close monitoring. Wilasinee Boonmasungsong, Assistant Managing Director of Globlex Securities, said the negative factors weighing on investment include data from CME Group's FedWatch Tool indicating that investors assign a 53.1% probability that the US central bank will raise interest rates by another 0.25% at its October meeting, up from 27.2% a week earlier, as well as the attack on oil tankers in the Strait of Hormuz by the Iranian navy, and the Houthi group in Yemen stating that Saudi warplanes carried out 40 airstrikes across three provinces of Yemen within 24 hours. Meanwhile, Thai household debt, according to a survey by the Center for Economic and Business Forecasting at the University of the Thai Chamber of Commerce, surged to 794,945.49 baht per household, up 7.3%, the highest in 17 years. On the positive side, the yield on 10-year US government bonds fell to 4.93%, and the Bank of England's Monetary Policy Committee voted 6 to 3 to hold the policy rate at 3.75% as expected. Wacharant Jongyanyong, Director of the Research Department at Globlex Securities, recommended an investment strategy focused on stocks with specific positive factors, especially those expected to benefit from the launch of three new iPhone smartphone models, namely COM7, SYNEX, SPVI, CPW and ADVICE.

Shares of COM7 and CPW are benefiting from the buzz around the iPhone 18 Series, especially the Pro and Pro Max models, whose advance pre-orders are growing faster than those of the previous generation, while Trade-in registrations have jumped more than 100%. Kaewjirai Kemasit, Senior Director of the Apple Product Group at Comseven Public Company Limited, or COM7, said the iPhone 18 Pro Max in Burgundy and Glacier are the most popular models. COM7 is preparing offers of 0% installment plans through credit cards for up to 36 months and UFUND loans for up to 48 months, along with special privileges worth up to 10,000 baht, and will deliver products through a network of more than 1,300 branches nationwide. Paphavee Rujcharoentham, Director of Retail at Copperwired Public Company Limited, or CPW, said the atmosphere on the first day of sales on September 18, 2026, was lively. CPW is preparing for the launch of the iPhone Duo, which will open for pre-orders on October 16 and go on sale on October 23, 2026, and expects the fourth quarter of 2026, a high season, to be boosted by a full quarter of iPhone 18 Pro Series sales recognition. CPW currently has a total of 111 retail stores, covering Apple Brand Shops and leading technology stores such as iStudio by copperwired, U.Store by copperwired, Dotlife, and TECHHOUSE by Dotlife.

Krungsri Securities said Apple unveiled its new products, headlined by the iPhone Duo, its first foldable-screen iPhone, priced in Thailand from 79,900 baht up to 127,900 baht, with pre-orders opening October 16 and sales on October 23. Meanwhile, the iPhone 18 Pro and iPhone 18 Pro Max carry higher launch prices in Thailand, starting at 48,900 baht, compared with 43,900 baht for the iPhone 17 Pro, with pre-orders opening September 12 and sales starting September 18. Apple also discontinued sales of the iPhone 17 Pro, 17 Pro Max and 16 Plus through the Apple Store in line with its normal product cycle. Authorized resellers can still sell existing stock, but this round differs from last year because Apple did not cut prices on older models and instead raised them by 4,000 to 12,000 baht. The iPhone 16 rose 4,000 baht, the iPhone 17 rose 5,000 baht, the iPhone 17e rose 4,000 baht, and the iPhone Air rose 4,000 to 12,000 baht. As a result, Apple shares rose 1% in after-hours trading this morning following the launch. In the KSS Strategist View, the sentiment is positive for the Apple ecosystem on the chance of an upgrade cycle driven by the new form factor of the iPhone Duo, as well as higher margins from selling older models at higher prices. The Thai stocks that stand to benefit are COM7, SPVI and CPW, as well as ADVANC and TRUE on the opportunity to sell both device and 5G packages. Still, real demand after pre-orders open must be watched more than launch-day buzz, especially the effect of the higher prices.

Copper Wire Public Company Limited, or CPW, reported second-quarter net profit for 2026 rose 125.04% to 38.55 million baht, while revenue from sales and services came in at 2.585 billion baht, up 1.16% from the same period last year, supported by a better gross margin, especially in the smartphone segment, and lower financial costs. For the first six months, net profit surged 95.51% to 81.86 million baht, and total revenue reached 5.475 billion baht, an increase of 5.90% from a year earlier. CPW currently operates 111 retail stores under brands including Dotlife, Apple, AIS, Samsung, Xiaomi and Huawei. The board approved an interim dividend of 0.08 baht per share, with the ex-dividend date set for 20 August 2026 and payment on 4 September 2026.

The market is watching CPW and PR9 after their Q4 2024 earnings recovered. CPW reported a net profit of 1.2 billion baht, up 15 percent from the previous year, supported by same-store sales growth of 8 percent. Meanwhile, PR9 posted a net profit of 850 million baht, up 22 percent from the previous year, driven by a 12 percent increase in outpatient revenue. Analysts see continued growth momentum for both companies in 2025, backed by branch expansion plans and new services.