An overhaul of Apple’s lineup and anticipation of strong sales of the new products has resulted in a major growth spike among Apple’s suppliers. According to Brian White of Topeka Capital markets, [COLOR=blue !important][COLOR=blue !important]Apple[/COLOR][/COLOR] suppliers saw their sales grow 29% year over year in the month of October. That increase handily exceeds the average 2% year-over-year growth seen in the month of October over the last 7 years. The strong performance also follows a decrease of 1% that came in the month of September.

White mentioned Apple’s new product lineup, which includes the iPhone 5, [COLOR=blue !important][COLOR=blue !important]iPad[/COLOR][/COLOR] mini, new iPods, and new Macs – is an “unprecedented” transition. The new products are being predicted to account for 80% of Apple’s total sales in the company’s upcoming December quarter. He acknowledged that AAPL stock has been under “selling pressure” in recent weeks but he continues to remain bullish on the company going forward. The 12-month price target was reiterated to be worth $1,111, which is a number that is more than double Apple’s current stock price.

White wrote the following: “The iPhone 5 and iPad mini are blockbuster new products that we believe prove to be big hits this holiday season and into 2013, combined with the new iPad, [COLOR=blue !important][COLOR=blue !important]MacBook [COLOR=blue !important]Pro[/COLOR][/COLOR][/COLOR], iMac and iPod lineup.” Based on his “Apple Monitor” which tracks sales trends across the Taiwan supply chain at leading Apple suppliers, the companies generate a high percentage of their revenues from supplying components for Apple’s products.