The largest contract electronics manufacturer in the world, Foxconn, of Taiwan, exceeded forecasts to report its highest-ever fourth-quarter revenue due to the ongoing high demand for AI servers.
Foxconn on Sunday, revenue for Apple’s largest iPhone manufacturer increased 15.2% to 2.13 trillion New Taiwan dollars ($64.72 billion).
Additionally, it outperformed a 2.1 trillion New Taiwan dollar LSEG SmartEstimate, which assigns more weight to analyst projections that are more reliably correct.
Whose clients include AI chip manufacturer Nvidia, robust demand for AI servers resulted in significant revenue increase for its cloud and networking products division.
Growth in smart consumer gadgets, which includes iPhones, was “roughly flattish” year over year.
Source (CNBC)