Redington Stock Rallies 10% Ahead of iPhone 18 Launch
Redington Ltd's stock has been on a tear ahead of Apple's iPhone 18 launch, rising by 10% over the last five trading days. The Chennai-based global technology solutions provider and supply chain distributor is heavily dependent on Apple, with the tech giant contributing 31% of its total global revenue in Q1 FY27.
In the past, Redington's stock has shown a mixed reaction to iPhone launches. While it gained after the iPhone 13 and iPhone 14 launches, it declined following the iPhone 15 and iPhone 16 launches. However, the iPhone 17 launch marked a sharp turnaround, with the stock rallying by 29.40% in just eight days after the launch.
With Apple set to unveil the iPhone 18, investors will be watching closely to see whether the latest launch can once again drive strong sentiment for Redington. Given its high dependence on Apple and the strong rally seen after the previous launch, the stock could remain in focus, although past performance does not guarantee a similar reaction this time.