Shares of BH are soaring in early trading amid excitement over the anticipated unveiling of Apple's first foldable iPhone.
As of 10:10 a.m. on September 1, BH's stock was trading at 21,400 won, up 17.9% (3,170 won) from the previous trading day, according to the Korea Exchange.
The surge in buying interest is attributed to expectations that BH, a producer of flexible circuit boards (FPCB), will benefit from Apple's upcoming foldable phone release.
Apple has announced a special event scheduled for September 9 at 10 a.m. Pacific Time, which will be 2 a.m. on September 10 in South Korea, at Apple Park in Cupertino, California. While Apple has not specified the products to be unveiled, the market anticipates the introduction of the iPhone 18 Pro series alongside the company's first foldable iPhone.
BH is recognized as a key supplier of flexible circuit boards to both Apple and Samsung Electronics. There is growing optimism that an official entry by Apple into the foldable phone market will lead to increased demand for related components, positively impacting BH's performance.
Daishin Securities also released a report today predicting that Apple's foldable phone launch will serve as a catalyst for the expansion of the global foldable phone market. Following strong sales of Samsung's Galaxy Z Fold 8, the entry of Apple into the market is expected to significantly boost global foldable phone shipments next year.
Daishin Securities forecasts that global foldable phone shipments will rise from 20.32 million units last year to 26.1 million units this year, marking a 28.4% increase, and will further grow to 35.37 million units next year, a 35.5% increase. They project that Apple's foldable iPhone will sell over 15 million units annually, capturing the top market share.
Expectations for BH's expansion into robotics and humanoid projects are also contributing to the stock's strength. Daishin Securities anticipates that BH will secure additional clients based on existing sales from Boston Dynamics' humanoid robot, Atlas. The potential applications of long-axis flexible PCBs in robotics and humanoids are expected to generate new revenue starting next year.
Park Kang-ho, a researcher at Daishin Securities, stated, "Considering the launch of Apple's foldable phone and the success of Samsung's Galaxy Z Fold 8, BH is expected to benefit from the expansion of global foldable phone shipments by 2027." Daishin Securities maintains a 'Buy' rating on BH with a target price of 41,000 won.
* This article has been translated by AI.
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