Hon Hai Precision Industry Co., Ltd. (HNHPF)
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Foxconn says May revenue climbs 22% y/y, raises outlook
Taiwan's Foxconn , the world's largest contract electronics maker and Apple's biggest iPhone assembler, reported on Wednesday revenue for May rose 22.1% year-on-year, a record high for the month.
Foxconn eyes 40 percent global AI server market share
Taiwanese tech giant Foxconn said Friday its global market for artificial intelligence servers is expected to increase to 40 percent this year, with AI products being the main driver for growth.
Hon Hai: Focus On AI Server Growth Rather Than Earnings Miss (Rating Upgrade)
Hon Hai's Q1 2024 earnings were below expectations due to non-operating factors, but its first quarter operating profit was slightly above the consensus forecast. HNHAF's actual April 2024 sales performance and the sell-side analysts' consensus full-year FY 2024 financial forecasts are favorable. I revise my rating for Hon Hai to a Buy, in view of the positive outlook for its AI server business.
