Streetbeat News

HNHPF

Hon Hai Precision Industry

https://www.foxconn.com.tw/

Industry

Electronic Computer Manufacturing

Open

12.34

Mkt cap

87B

Volume

7.3K

High

12.50

P/E Ratio

17.86

52-wk high

14.16

Low

12.34

Div yield

0.00

52-wk low

6.04

Wall Street is set for a cautious start as traders await the consumer price inflation report. Bond yields are slipping, and if inflation data shows a continued decrease, the Federal Reserve may cut rates. Nvidia and other AI-levered tech stocks could benefit from strong AI server demand. Peloton surged on a partnership with Alphabet's Fitbit, while Kellanova rose on acquisition news. Several companies, including Cardinal Health and Cisco, are reporting earnings. Bitcoin topped $61K, and global markets showed mixed reactions.

Portfolio Pulse from Shanthi Rexaline

August 14, 2024 | 11:11 am

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.

Portfolio Pulse from Shanthi Rexaline

August 14, 2024 | 10:06 am

Foxconn is on track to ship the latest Nvidia AI servers next quarter, according to a report by Nikkei. This development is significant for both companies as it highlights their collaboration in the AI server market.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 8:56 am

Taiwan Semiconductor Manufacturing Co (TSMC) and Foxconn are driving global supply chain shifts, attracting key industry players. TSMC is expanding in Germany, Japan, and the U.S., while Foxconn is growing in Mexico, India, and Southeast Asia.

Portfolio Pulse from Anusuya Lahiri

June 10, 2024 | 4:53 pm

This week in AI saw major developments from Nvidia's stock split announcement, Intel's new AI-focused chips, and Tesla's chip diversion. Nvidia announced a 10-for-1 stock split, Intel unveiled its Lunar Lake AI chips, and Elon Musk explained the redirection of Nvidia chips from Tesla to X and xAI.

Portfolio Pulse from Benzinga Neuro

June 09, 2024 | 1:00 pm

Apple supplier Hon Hai Precision's subsidiary, Ingrasys, predicts its AI server sales will triple to over $31 billion next year, driven by the growing demand for AI solutions. This comes amid Nvidia's CEO Jensen Huang's prediction of a significant increase in data center spending. Ingrasys, which manufactured Nvidia's DGX-1 supercomputer donated to OpenAI, sees this as just the beginning of AI growth.

Portfolio Pulse from Rounak Jain

June 05, 2024 | 10:11 am

Foxconn Technology Group, known for assembling Apple Inc.'s iPhones, reported a 72% increase in Q1 net profit despite a 9% revenue drop due to weaker consumer electronics demand. The profit surge was attributed to a low base last year and strong growth in the cloud and networking segment. Foxconn is diversifying its business, including ventures into electric vehicles and AI, and expanding production outside China. The company anticipates revenue growth in Q2 2024 after reporting its best-ever April revenue.

Portfolio Pulse from Benzinga Neuro

May 14, 2024 | 8:11 am

Apple Inc. (AAPL) has had a significant week with record-breaking iPhone sales, the launch of new iPad models, and comments from Elon Musk. Foxconn (HNHPF), Apple's main iPhone manufacturer, reported its highest-ever April revenue, indicating strong performance. The iPhone 15 Pro Max was the best-selling smartphone in Q1 2024, despite a global sales slump. Apple also launched the new iPad Air 6 and iPad Pro, showcasing the M4 chip, highlighting its AI ambitions. Elon Musk questioned Apple's R&D spending in light of these developments.

Portfolio Pulse from Benzinga Neuro

May 12, 2024 | 9:18 am

Hon Hai Precision Industry Co. (Foxconn), Apple Inc.'s largest iPhone manufacturer, reported a 19% increase in April revenue to $15.8 billion, marking its best April revenue ever. This surge is attributed to stronger iPhone demand and the launch of Apple's new MacBook Air. Despite Apple facing challenges in the Chinese market and a global 16% drop in iPhone sales in Q1 2024, Hon Hai's record revenue suggests a potential positive turn for Apple's iPhone sales. Apple shares were slightly down in premarket trading.

Portfolio Pulse from Rounak Jain

May 06, 2024 | 12:46 pm

Foxconn, owned by Hon Hai Precision Industry Co. Ltd (OTC:HNHPF) and a key supplier for Apple Inc (NASDAQ:AAPL), reported a 9.6% drop in Q1 revenue but expects growth in Q2, attributing potential gains to its involvement in AI and partnership with Nvidia Corporation (NASDAQ:NVDA). Despite a seasonal sales slump and a recent earthquake, increased demand in consumer electronics and cloud services, alongside its AI initiatives with Nvidia, fuels Foxconn's optimistic revenue outlook.

Portfolio Pulse from Upwallstreet

April 05, 2024 | 6:14 pm

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