Foxconn raises third-quarter outlook on AI demand and peak-season sales
The Apple supplier expects performance to exceed market expectations but offered no numerical guidance and flagged global political and economic risks.
Foxconn expects its third-quarter performance to exceed market expectations, citing continued artificial intelligence demand and peak-season sales of information and communications technology products.
The Taiwanese contract electronics maker said visibility for the quarter had improved from the previous month and that operations were expected to gain momentum as AI demand grows and ICT products enter the second-half peak season.
Foxconn, formally known as Hon Hai Precision Industry, is Nvidia’s biggest server maker and a major Apple supplier. It reported a 35% year-on-year increase in second-quarter profit last month, beating analyst forecasts.
The company does not provide numerical forecasts and gave no figures or specific analyst estimates for its third-quarter expectation. It also did not identify which AI products or demand measures were driving the outlook.
Foxconn said investors should continue to monitor the effects of volatile global political and economic conditions, without elaborating on their potential impact.
Revenue in August rose 51.98% from a year earlier to T$921.8 billion, the company’s highest August result and the second consecutive month above T$900 billion.
