Foxconn profit surges amid AI boom, but trade tensions cloud outlook
The Taiwanese iPhone assembler and AI server maker reported a 91 per cent leap in first-quarter profit but downgraded its full-year outlook
In an earnings report, Foxconn said it should see significant on-year growth in the second quarter, with high double-digit growth year on year for AI servers and an accelerating volume production ramp-up.
But for full-year revenue, it forecast significant on-year growth, downgrading the outlook from a previous prediction of strong growth. It did not elaborate and the company does not provide numerical guidance.
A Sino-US trade spat could dim prospects for Foxconn’s outlook this year, as it has a major manufacturing presence in China, though Washington and Beijing on Monday agreed to slash tariffs for at least 90 days.