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[Alpha Biz=(Chicago) Reporter Paul Lee] LG Innotek rose more than 7% in the morning of the 19th. As Apple rose 3% on the New York Stock Exchange the previous day, investor sentiment for LG Innotek, a major supplier of iPhone parts, is also believed to have revived.
As of 9:25 a.m., shares of LG Innotek were traded at 215,500 won, up 14,000 won (6.95%) from the previous day.
Apple, which supplies camera modules by LG Innotek, rose 3.26% on the New York stock market the previous day. This is due to global investment bank Bank of America (BOA) raising its investment opinion on Apple from "neutral" to "buy" and its target price from $208 to $225. BOA predicts that Apple's demand for iPhone upgrades will increase and demand for generative artificial intelligence (AI) will lead to demand for new equipment.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
