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View of LG Innotek factory. (Photo=LG Innotek) |
[Alpha Biz=(Chicago) Reporter Kim Jisun] Apple-related stocks in the local stock market have been hit by concerns that Apple's growth engine will decline.
According to the Korea Exchange on the 11th, LG Innotek's stock price, which is tied to Apple-related stocks in the domestic stock market, fell 21.17% this year. The stock price returned to three years ago, down 54% from the record high of 2022. LG Innotek supplies camera modules to Apple's iPhone. It is heard that Apple's sales account for 75%.
Shares of Deokwoo Electronics, which supplies camera parts Steffner to Apple, also fell 19.68% this year. Shares of LG Display, which supplies displays, fell 7.35%. Apple is estimated to account for 30% of LG Display's total sales.
The drop in these stock prices is attributable to weak investor sentiment as analysts say Apple, a major customer, will see its earnings growth slow down. Due to sluggish iPhone sales and intensifying competition in the Chinese market, Apple's operating profit grew back to $ 114.3 billion (about 150 trillion won) last year from the previous year ($ 119.4 billion). This year's sales are estimated to be $ 392.9 billion (about 518 trillion won), falling short of the 2022 earnings ($ 394.3 billion).
Apple shares have fallen 12.22% this year. Apple, which has maintained its No. 1 position in global market capitalization, has recently given up the throne to Microsoft, and NVIDIA has hit the top, putting the second place at stake. If NVIDIA's stock price rises by an additional 13% in the future, Apple will fall to third place.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
