AAC Enjoys Better Haptics Outlook and Cash Burn in Optics Dwindles

Over the past decade, AAC has benefited from the rise of Apple, which accounts for around 45% of the firm’s sales, by supplying acoustics and haptics components to the phone maker. However, AAC has had to endure a slowdown in the adoption of the new speaker and touch feedback technologies by Apple and intensifying competition within Apple’s supply chain. As a result, its return on invested capital declined to 4.6% in 2021 from 31% in 2012.