Apple, Nvidia Supplier Foxconn Clocks Record June Quarter Revenue As Net Margin Slips, Issues Upbeat Q3 Guidance: Management Touts AI Servers As Company's 'Next Trillion-Dollar-Revenue Product'
Portfolio Pulse from Shanthi Rexaline
Foxconn, a supplier to Apple and Nvidia, reported record June quarter revenue driven by strong AI server sales. The company issued an upbeat Q3 guidance, projecting significant growth in smart consumer electronics and cloud products. Foxconn expects AI servers to become a trillion-dollar revenue product.
August 14, 2024 | 10:06 am
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POSITIVE IMPACT
Foxconn, a key supplier to Apple, reported record revenue and strong AI server sales, which could positively impact Apple's supply chain and product availability.
Foxconn's strong performance and positive outlook suggest a robust supply chain for Apple, potentially leading to better product availability and sales for Apple.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 70
POSITIVE IMPACT
Foxconn's development schedule for Nvidia's GB200 rack is on track, with shipments expected to begin in Q4. This could boost Nvidia's revenue from AI server products.
The timely development and shipment of Nvidia's GB200 rack by Foxconn could enhance Nvidia's revenue from AI server products, reflecting positively on its stock.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 80