|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||6.87 - 6.95|
|52-week range||6.03 - 7.93|
|Beta (5Y monthly)||0.62|
|PE ratio (TTM)||11.91|
|Forward dividend & yield||0.35 (5.26%)|
|Ex-dividend date||13 Jul 2022|
|1y target est||N/A|
Apple’s largest manufacturer says demand for servers needed to run ChatGPT-like services will double this year
Apple Inc supplier Foxconn said on Wednesday artificial intelligence applications would strongly drive demand for its server business this year but reiterated 2023 overall would be a flat one for the company on global economic woes. Foxconn Chairman Liu Young-way told the company's annual shareholders meeting the firm remained cautious about this year due to monetary policy tightening, geopolitical tensions and uncertainty over inflation, but servers were a bright spot due to surging interest in AI. The Taiwanese company has a 40% global market share for servers and aims to further increase that, Liu added.
Lordstown Motors was once in the race to build America’s first EV pickup truck. But now – after vehicle fires, short seller reports and recalls – the company has turned to a reverse stock split to try and avoid filing for bankruptcy protection. Illustration: David Fang
TAIPEI (Reuters) -Apple Inc supplier Foxconn on Thursday posted a 56% plunge in first-quarter net profit, lagging forecasts in its biggest quarterly fall in three years, and said visibility for the full year was "limited". The Taiwanese company said net profit for the January-March quarter fell to T$12.8 billion ($417.17 million) from T$29.45 billion in the same period the previous year. It was much worse than an average forecast of T$29.18 billion in profit from 13 analysts, according to Refinitiv.
The dramatic escalation in China-Taiwan tensions will loom large over Asia on Monday, potentially cranking up market volatility in a session with trading volume already likely to be reduced with much of Europe closed for the Easter Monday holiday. On the economic data front on Monday, Japanese current account figures for February and the possible release of Chinese credit, loan growth and money supply data for March could divert investors' attention away from the geopolitics. Looking ahead, the major Asian economic and policy calendar events for the rest of the week are: Chinese CPI and PPI inflation, and trade balance; Indian inflation; Australian unemployment; and interest rate decisions from South Korea and Singapore.
Foxconn Chairman Liu Young-way departed on Tuesday for a four-day inspection of the company's iPhone plant in Zhengzhou, China, a source with direct knowledge of the matter said. This will be Liu's first visit to the world's largest Apple iPhone factory in his role as chairman, and his main goals are to review conditions after the resumption of production and to extensively exchange views, the source said. Liu is scheduled to meet with senior government officials including Lou Yangsheng, the Communist Party chief of Henan province where Zhengzhou is located, the source said.
"We are in serious discussion of investment plans with Hon Hai Technology Group (Foxconn) at their Taiwan HQ & look forward to a fruitful collaboration," Bommai said in a tweet. "We remain committed to welcome the best companies to the state & reap rewards for our people."
TAIPEI (Reuters) -Taiwan on Thursday fined Foxconn T$10 million ($329,088) for making an unauthorised investment in a Chinese chip firm, but said the Taiwanese iPhone assembler had cooperated in the case and so received a lesser punishment. Taiwan, which Beijing views as sovereign Chinese territory, has kept a wary eye on China's ambition to boost its semiconductor industry and is tightening legislation to prevent what it says is China stealing its chip technology. Foxconn, a major Apple Inc supplier and the world's largest contract electronics maker, disclosed last July it was a shareholder in Chinese chip conglomerate Tsinghua Unigroup, but said last month it would be selling the stake.
Chiang replaces longtime leader Wang Charng-yang as head of the iPhone assembly division, the Bloomberg report said. Foxconn declined to comment. Apple did not immediately respond to a request for comment.
Even Nostradamus couldn't have predicted the events of 2022. Let's see if the coming year will be any easier.
Chinese display maker BOE Technology Group Co Ltd, a supplier of both Apple Inc and Samsung Electronics Co Ltd, plans to invest a substantial sum to build two factories in Vietnam, two people familiar with the matter said. BOE is in talks to rent dozens of hectares of land in north Vietnam to add to its relatively small plant in the south that supplies mostly television screens to South Korea's Samsung and LG Electronics Inc, the people said, declining to be identified as negotiations were confidential. Northern Vietnam has in recent years attracted significant investment from electronics giants, becoming a major hub for the production of smartphones, computers and cameras, including flagship goods from Apple and Samsung.
Luxshare has been producing small numbers of the iPhone 14 Pro Max at its Kunshan plant, to make up for lost production at Foxconn's Zhengzhou factory last year, the report added. Luxshare, which was founded in 2004, became an Apple supplier in 2011 and has steadily moved up the hardware giant's value chain, from making connector cables for the iPhone and Macbook to manufacturing Airpods.
NVIDIA (NVDA) and Taiwan's Foxconn enter a strategic partnership to develop automated platforms that will get featured in tier-1 electronic vehicles manufactured by Foxconn.
Taiwanese contract manufacturer Foxconn said it will manufacture electronic control units (ECUs) for cars based on Nvidia's DRIVE Orin chip made specifically for computing in connected and autonomous vehicles. The ECUs will serve the global automotive market, Foxconn said. Companies developing electric and autonomous cars have struggled to bring products to the market in recent years as they grapple with rising costs and difficulties in ramping up production.
TAIPEI (Reuters) -Foxconn's COVID-hit iPhone plant in China's Zhengzhou city is almost back to full production, with its December shipments reaching about 90% of initial plans, two people with direct knowledge of the matter said. Foxconn, formally Hon Hai Precision Industry Co Ltd, declined to comment. Production at the world's largest manufacturing facility of Apple Inc's iPhones was heavily affected late last year after a COVID-19 outbreak and curbs taken to control the virus prompted thousands of workers to leave.
Taiwan's Foxconn, the world's largest contract electronics maker, said on Thursday that its Singapore unit has acquired 4.08 million shares in Foxconn Hon Hai Technology India Mega Development Private Limited for $500 million. The announcement of a $500 million injection into its India unit comes after Reuters reported last month that Apple supplier Foxconn plans to quadruple the workforce at its iPhone factory in India over two years, with two government officials with knowledge of the matter pointing to a production adjustment as it faces disruptions in China.
HONG KONG (Reuters) -Taiwan's Foxconn, the world's largest contract electronics maker, said on Thursday that its Singapore unit has acquired 4.08 million shares in Foxconn Hon Hai Technology India Mega Development Private Limited for $500 million. The announcement of a $500 million injection into its India unit comes after Reuters reported last month that Apple supplier Foxconn plans to quadruple the workforce at its iPhone factory in India over two years, with two government officials with knowledge of the matter pointing to a production adjustment as it faces disruptions in China.
HONG KONG, Dec 8 (Reuters) - Apple supplier Foxconn's COVID-hit Zhengzhou facility in China has lifted its "closed-loop" management curbs on Thursday, it said in a statement posted on its WeChat account. The Zhengzhou industrial park where Foxconn's plant locates has been under a so-called closed-loop system that isolated the plant from the wider world for 56 days, the statement said. The world's largest contract electronics maker, which has been trying to replenish depleted staff numbers at the site after thousands left over the past month, expects the Zhengzhou plant to resume full production around late December to early January, a company source told Reuters on Monday.
Sales at Apple supplier Foxconn have fallen by nearly a third amid a shut down and violent protests at its iPhone plant in China promoted by Beijing’s strict Covid lockdowns.
China's exports and imports likely contracted further in November due to weakening global demand, production disruptions and waning demand at home amid widespread pandemic controls, a Reuters poll showed on Monday. Data for November are expected to show a 3.5% fall in outbound shipments from a year earlier, after October's figures were down an annual 0.3%, according to the median forecast of 28 economists in the poll. The frail economists' estimate for exports suggests cooling global demand that has been hurt by higher interest rates in major economies will heap more pressure on policymakers in China, as the country's property downturn and struggle to contain COVID-19 continue to take a toll on the economy.
By Geoffrey Smith
By Alessandro Albano
Apple supplier Foxconn expects its COVID-hit Zhengzhou plant in China to resume full production around late December to early January, a Foxconn source said on Monday, after worker unrest last month disrupted the world's biggest iPhone factory. The world's largest contract electronics maker later on Monday said revenue in November fell 11.4% year on year reflecting production problems related to COVID-19 controls at the major iPhone factory. "At present, the overall epidemic situation has been brought under control with November being the most affected period," the company said in a statement, adding it has started to recruit new employees and was gradually "restoring production capacity to normal".
China's manufacturing and services activities shrank further in November to seven-month lows, official data showed, stung by the country's zero-COVID policy and rising infections that analysts said will hurt the economy well into 2023. Production woes for Apple were heightened by a rare example of large-scale labour unrest in China, where Foxconn workers clashed with security personnel in Zhengzhou.