Foxconn Shares Soar as Q4 Profit Exceeds Expectations, Fueled by AI Server Demand
Foxconn, the world's biggest agreement electronic devices maker and an essential provider for tech huge Apple, experienced an amazing rise in its share costs on Friday, March 15th. The business's shares escalated by as much as 9.5%, reaching a three-year high.
This development follows the release of its fourth-quarter revenues report and bullish outlook for the existing year, driven by the rising need for expert system (AI) servers.
Outstanding Q4 Performance and Optimistic Outlook
On Thursday, March 14, Foxconn, officially referred to as Hon Hai Precision Industry Co Ltd, reported an outstanding 33% year-over-year dive in its net revenue for the 4th quarter of 2023.
This remarkable efficiency, which amounted to NT$ 44.9 billion ($1.5 billion), went beyond market expectations and set the p...