x86-16 machine code, IBM PC DOS, 13 10 bytes
00000000: b04c cd29 0c20 3403 ebf8 .L.). 4...
Listing:
B0 4C MOV AL, 'L' ; start off with capital L
PRINT:
CD 29 INT 29H ; write to console
0C 20 OR AL, 20H ; lowercase it
34 03 XOR AL, 3 ; swap between 'l' (0x6c) and 'o' (0x6f)
EB F8 JMP PRINT ; loop forever
A standalone PC DOS executable COM program. Output to console.
-3 bytes thx to @nununoisy's very clever use of XOR
to swap between l
and o
.
Runtime:
Forever and ever...