Hon Hai Precision Industry Co., Ltd. (HNHAF)
- Reuters
Foxconn's Q1 profit to jump from low base, AI to power growth
Taiwan's Foxconn, the world's largest contract electronics maker, is expected to report on Tuesday that first-quarter profit more than doubled on robust demand for artificial intelligence servers and after coming off a low base a year ago. Net profit for January-March for Apple's top iPhone assembler likely came in at T$29.3 billion ($904.6 million), according to an LSEG consensus estimate of 15 analysts. That would represent a 129% increase from the same period a year ago when profit sagged after the company took a T$17.3 billion writedown related to its 34% stake in Japanese electronics maker Sharp Corp. It would also mark a third consecutive quarter of profit growth.
- CNN Business
Biden takes aim at Trump for failed Foxconn project with visit to Microsoft’s new site in Wisconsin
Microsoft said it is pouring $3.3 billion into building a data hub in Wisconsin that aims to train employees and manufacturers on how to best use artificial intelligence.
- Bloomberg
Biden Jabs Trump on Foxconn With Microsoft Project at Same Site
(Bloomberg) -- President Joe Biden chided Donald Trump during a visit to swing-state Wisconsin, championing a major Microsoft Corp. investment at the same site his 2024 rival’s plans for a flagship technology project by Foxconn fizzled.Most Read from BloombergApple Nears Deal With OpenAI to Put ChatGPT on iPhoneHow One Brooklyn Neighborhood Became a Nightclub HavenTrump Pledges Across-the-Board Tax Cuts If He Returns to OfficeIce Cube’s Big3 Basketball League Sells Its First Team in $10 Million
