Apple Inc.'s suppliers, LG Innotek Co. and Inventec Corp., were the forerunners in terms of gains among all of its Asian suppliers. Their profits rose after the maker of iPhone and iPad surpassed the third quarter earnings projections of analysts.
The camera-module supplier from South Korea, LG Innotek, climbed 3.5% to KRW93,700. Since June 19, the figure was recorded to be the highest conclusion for the company. According to information compiled by Bloomberg, the company would receive 3.3% of its income from Apple. Today, LG Innotek reported a stronger-than-projected second-quarter profit.
"Apple's comments on new products and its better-than-expected profit are positive to South Korean suppliers, especially in the second half of this year," IBK Securities Co.'s analyst, Eo Kyu Jin, stated through a phone call today.
On the other hand, the producer of Apple's notebooks, Taiwan's Inventec, surged 6.8% at the close. Whereas, Taiex index benchmark declined by 0.2%.
Other suppliers for Apple also increased after the corporation's earnings were reported. LG Display Co. which was supposed to get 3.3% of its earnings from Apple, reported its highest increase in two weeks.
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