Streetbeat News

FXCOF

Foxconn Technology Co. Ltd.

http://www.foxconntech.com.tw/

Industry

Computer Terminal and Other Computer Peripheral Equipment Manufacturing

Open

1.76

Mkt cap

2.5B

Volume

High

1.76

P/E Ratio

17.60

52-wk high

1.76

Low

1.76

Div yield

0.02

52-wk low

1.76

NXP Semiconductor shares dropped 7.7% in pre-market trading due to a lower-than-expected Q3 revenue forecast, driven by a slowdown in automotive demand and geopolitical tensions. The company expects Q3 revenue between $3.15 billion and $3.35 billion, below estimates of $3.35 billion. Other chip stocks like Nvidia, AMD, and Intel also traded lower in the pre-market.

Portfolio Pulse from Benzinga Neuro

July 23, 2024 | 9:53 am

Google, a subsidiary of Alphabet Inc., is accelerating its manufacturing plans in Tamil Nadu, India, to produce Pixel smartphones and drones. This move aligns with other tech giants like Apple and Samsung, which are diversifying production away from China. The initiative is a significant win for Tamil Nadu and aligns with India's economic strategies.

Portfolio Pulse from Shivani Kumaresan

May 23, 2024 | 2:48 pm

Microsoft Corp. (NASDAQ:MSFT) has purchased a 407-acre property in Wisconsin, which includes a pumpkin farm, for $76 million. The acquisition is part of Microsoft's plans to build a data center campus in the area, with an initial employment of 200 people, potentially increasing to over 460. The property is adjacent to another plot Microsoft previously bought for $99.7 million. The deal concludes a period of uncertainty in the village after Foxconn (OTCPK: FXCOF) scaled back its $10 billion investment to $672 million.

Portfolio Pulse from Rounak Jain

December 23, 2023 | 5:48 pm

Apple Inc.'s market value is nearing that of the entire French stock market, with a market cap of $3.1 trillion compared to France's $3.2 trillion. Apple's shares rose 1.67% to $197.96, reflecting a 38% increase over the past year. The company faces challenges in China but is expanding in India, with plans to produce over 50 million iPhones annually there in a few years. Foxconn Technology Co., Ltd. has been approved to invest an additional $1 billion in its India plant. Citigroup analyst Atif Malik points to Apple's structural gross margin expansion and high-end market position as reasons for optimism.

Portfolio Pulse from Nabaparna Bhattacharya

December 14, 2023 | 3:26 pm

Foxconn Technology Co., Ltd. (OTC:FXCOF) has received approval to invest an additional $1 billion in its India-based manufacturing plant for Apple Inc. (NASDAQ:AAPL) devices. This raises Foxconn's total investment in the Bengaluru site to approximately $2.7 billion. The move is part of a strategic shift away from China, reflecting economic challenges and U.S.-China tensions. The investment will expand production capacity, potentially including iPhones, and may also support manufacturing of electric vehicle parts for other clients. AAPL shares rose 0.47% in premarket trading.

Portfolio Pulse from Nabaparna Bhattacharya

December 13, 2023 | 1:16 pm

Apple Inc. (AAPL) and its suppliers, including Foxconn Technology Co., Ltd. (FXCOF), plan to manufacture over 50 million iPhones annually in India within the next two to three years. This move is expected to account for 25% of global iPhone production. The expansion includes a new Foxconn facility in Karnataka, set to begin operations in April, and a partnership with Tata Group for one of India's largest iPhone assembly plants. The developments aim to diversify production outside of China and increase market share.

Portfolio Pulse from Nabaparna Bhattacharya

December 08, 2023 | 12:00 pm

Foxconn Technology Group, a key supplier for Apple Inc., is under investigation by Chinese authorities over tax and land use. The investigations are taking place in provinces where Foxconn manufactures for Apple. The scrutiny comes amid the company founder's campaign for the Taiwanese presidency, which critics argue could make him susceptible to pressure from Beijing.

Portfolio Pulse from Benzinga Neuro

October 23, 2023 | 7:37 am

NVIDIA has partnered with Foxconn to drive the AI industrial revolution with new factories and systems. The partnership aims to leverage NVIDIA's AI and computing capabilities with Foxconn's manufacturing expertise.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 7:02 am

Apple Inc.'s key supplier, Foxconn Technology Co. Ltd., predicts a decline in iPhone demand in 2023, which could lead to a weak holiday season for Apple. This is due to an expected slowdown in the global smartphone industry. Apple is expected to see a 2% decline in iPhone revenue in September, the largest fall since 2016. However, Apple might offset some of this impact with an expected $100 increase in iPhone 15 Pro and iPhone 15 Pro Max prices.

Portfolio Pulse from Rounak Jain

August 14, 2023 | 12:46 pm

Foxconn Industrial Internet (FII), a unit of Foxconn Technology Group, is planning to invest up to $200 million in a components-making plant in India's Tamil Nadu. This move is part of Foxconn's strategy to diversify its manufacturing base amid the ongoing US-China trade tensions.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 6:33 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.