Citi: OpenAI brings new growth momentum to existing Apple supply chain companies in mainland China, focusing on Lens and AAC TECH
Citi released a research report stating that recent reports indicate OpenAI is developing its own AI device and is collaborating with a major iPhone assembler in mainland China to produce the device, while also negotiating with Goertek for component supply. Channel news from the firm shows that OpenAI is also discussing component supply matters with Lens and AAC TECH. The firm pointed out that the device is likely to be named "AIPin," taking the form of a wearable badge, equipped with voice, text, photo, and video functions, and featuring AI processing capabilities. Considering that the core members of OpenAI's device team come from Apple, it is reasonable for them to choose to collaborate with companies in Apple's supply chain. The firm expects this initiative to bring new growth momentum to existing Apple supply chain companies in mainland China. It has set a target price of HKD 60.5 for AAC TECH with a "highly confident outperform" rating; and a target price of HKD 33.7 for Lens with an outperform rating
According to the Zhitong Finance APP, Credit Lyonnais has released a research report stating that recent reports indicate OpenAI is developing its own AI device and is collaborating with a major iPhone assembler in mainland China to produce the device, while also negotiating with GoerTek Inc. (002241.SZ) for component supply. The bank's channel sources show that OpenAI is also discussing component supply matters with Lens Technology (06613) and AAC TECH (02018).
The bank indicated that the device is likely to be named "AIPin," taking the form of a wearable badge, equipped with voice, text, photo, and video functions, and featuring AI processing capabilities. Considering that the core members of OpenAI's device team come from Apple, it is reasonable for them to choose to collaborate with companies in Apple's supply chain.
The bank expects that this initiative could bring new growth momentum to existing Apple supply chain companies in mainland China. It has set a target price of HKD 60.5 for AAC TECH with a rating of "highly confident to outperform the market"; and a target price of HKD 33.7 for Lens Technology with an outperform rating
