Apple Supplier Stocks Drop as AI Event Seen Lacking Wow Factor
- LG Innotek falls as much as 9.5%, Luxshare Precision dips 4.1%
- Event had ‘no killer content,’ says Meritz Securities analyst
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A lukewarm response to Apple Inc.’s highly anticipated launch of new artificial intelligence features sank shares of some of the company’s key Asian suppliers.
Analysts said the event to introduce the Apple Intelligence platform contained no big surprises, and would fail to alter the downbeat outlook for iPhone shipments this year. That took some steam out of recent stock rallies for Apple and related component makers.