Foxconn, Apple's supplier, reported 33% Q4 profit increase, driven by holiday season sales and AI server demand.
Apple supplier Foxconn reported a 33% rise in fourth-quarter profit, driven by strong sales during the peak holiday season and booming demand for AI servers. The Taiwanese company, also known as Hon Hai Precision Industry, posted a net profit of T$53.14 billion ($1.69 billion), beating analyst estimates. Foxconn expects revenue to increase significantly in 2024, after a slow start to the year.
March 14, 2024
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