0442 GMT - LG Innotek could post weaker-than-expected earnings for 3Q and the full year due to sluggish iPhone 16 sales at launch, HSBC analysts Will Cho and Hankil Chang write in a note. They cut their operating-profit estimates for the South Korea-based Apple supplier by 9% for the July-September quarter and by 15% for 2024. Initial iPhone 16 sales numbers look disappointing, but sales growth should strengthen toward 4Q as on-device artificial-intelligence features should help improve iPhone users' experience and boost sales, they say. HSBC cuts its target on LG Innotek by 5.7% to KRW330,000 but keeps a buy rating. Shares are 0.7% higher at KRW203,000.(kwanwoo.jun@wsj.com)
(END) Dow Jones Newswires
October 14, 2024 00:42 ET (04:42 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。