Foxconn's Q4 profit beats market estimates, stock surges 9.5% to three-year high.

From Nasdaq:

Shares of Apple supplier Foxconn surged 9.5% to a three-year high after reporting a 33% increase in fourth-quarter profit and projecting strong growth this year. Analysts predict a 13%-25% rise in profits, attributing it to booming demand for AI servers. Foxconn’s stock outperformed the broader market, reaching T$132.50. (Reuters)

Analysts at Daiwa Capital Markets believe Foxconn will benefit from demand for Nvidia’s AI server products. They anticipate a double-digit profit increase for the electronics manufacturer this year compared to flat growth last year. Despite a 0.5% market decline, Foxconn’s stock soared to T$132.50, the highest since March 2021. (Reuters)



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