After Foxconn, a contract electronics giant, reported record fourth-quarter sales on Monday, global semiconductor stocks surged, indicating that the artificial intelligence boom had much more space to go.
In a statement released Sunday, Hon Hai Precision Industry, which operates internationally under the Foxconn name, reported that its fourth-quarter revenue of 2.1 trillion New Taiwan dollars ($63.9 billion) represented a 15% year-over-year increase.
Foxconn, an Apple supplier, also broke a record by announcing the biggest fourth-quarter revenue in the company’s existence.
Growth in its cloud and networking products, which include AI servers like those made by chipmaker Nvidia, as well as components and other product categories, were the main drivers of the company’s record-breaking sales performance.
Source (CNBC)
