[Featured Stock] LG Innotek Rises Over 6% on Autonomous Driving Market Expectations

[Asia Economy Reporter Junho Hwang] On the 21st, LG Innotek is showing an upward trend in the stock market due to expectations of the expansion of the autonomous vehicle market.

As of 10:24 AM, LG Innotek is trading at 336,500 KRW, up 6.15% compared to the previous day. This increase in expectations appears to be a result of KB Securities maintaining a buy rating on LG Innotek and raising the target price by 14% to 400,000 KRW.

Dongwon Kim, a researcher at KB Securities, stated, "LG Innotek's optical components and automotive parts are expected to be installed in Apple's metaverse hardware device (XR) and autonomous vehicle (Apple Car), and the semiconductor substrate business, which is expected to face supply shortages over the next three years, is projected to see profits double compared to the past." He added, "The hardware specifications of the iPhone 14, to be released in the second half of next year, will undergo a full change for the first time in seven years since the iPhone 6S in 2015, which is expected to lead to price increases and market share expansion."

He further analyzed, "LG Innotek is evaluated as a company that has secured an optimized autonomous vehicle business structure, and is expected to be the biggest beneficiary of the expansion of the autonomous vehicle market in the future," adding, "This is because LG Innotek possesses core optical and communication technologies for autonomous vehicles and has completed mass production verification for autonomous vehicle parts from global automobile manufacturers."

This content was produced with the assistance of AI translation services.