The net profit of one of the leading Apple suppliers has fallen sharply compared to last year. AAC Acoustic Technologies Holdings Inc. (AAC), a top Apple supplier in China, released its third-quarter (Q3) profit forecast for 2021, showing its Q3 consolidated net profit is expected to fall by 51 to 61 percent. AAC was once one of the most profitable companies in Apple’s supply chain with profit margins second only to Taiwan Semiconductor Manufacturing Company (TSMC), the world’s largest chip foundry. AAC Technologies manufactures a broad range of miniaturized acoustic components for Apple’s iPhones and is often regarded as a supply chain leader due to its high profitability. However, according to Hou Anyang, the chairman of Frontsea Asset Management, a Beijing investment firm, investors consider the recent fall in AAC’s profitability “distressingly bad.” In addition to AAC Technologies, many Apple suppliers also showed a reduced year-on-year profit growth. For example, Luxshare …