Apple's choice of South Korea-based LG may be attributed to its impressive gains in foldable screen technology over the years.
Brokerages expect Apple Inc.
He told Boy Genius Report, 'We will launch the device only after overcoming a series of technological barriers'.
Although Samsung is still expected to supply OLED panels for Apple's 2018 iPhones, LG, which recently started OLED production for phones at Chinese plant, is reportedly planning to supply iPhone panels from 2019 onwards.
Apple usually starts a new phone project a year before launch, sharing key features, including the panel, with suppliers. The business's revenue for the quarter was up 7.2% compared to the same quarter last year. Apple had a net margin of 20.73% and a return on equity of 34.94%. Gone are the bezels on the side, bottom, and top, giving the user a total of 5.8 inches of usable screen space.
In other news, CEO Timothy D. Cook sold 268,623 shares of Apple stock in a transaction on Monday, August 28th.
LG Display has been toiling away on its foldable OLED panel prototype, completing it about 3 years ago and upgrading yield rate and durability in the time since then. If the rumor is true, a foldable OLED smartphone is on the way. The stock presently has an average rating of "Buy" and a consensus target price of $157.06. The handset could go on sale in 2020. For more analysis of Apple, visit the IBD Stock Checkup. The news comes after a patent was filed by Apple in February this year, describing a folding smartphone with a fabric cover. Feel free to sound off in the comments section below! Finally, Private Vista LLC purchased a new position in Apple in the second quarter valued at about $122,000. With the Galaxy creator reportedly getting closer to releasing the first-ever foldable phone, Apple has already begun making moves to manufacture its own version of the bendable smartphone - with the help of another competitor, LG. FNY Managed Accounts LLC grew its stake in Apple by 852.4% in the second quarter. Institutional investors own 58.76% of the company's stock. (NASDAQ AAPL) traded up 0.57% during mid-day trading on Wednesday, hitting $156.79. 21,927,637 shares of the stock traded hands.
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