|
Technology
|
Hon Hai's Revenue Surge Amidst AI Demand
2024-10-05 13:29:08
Technology
Business
Artificial Intelligence

Hon Hai's Revenue Surge Amidst AI Demand

Hon Hai, the leading manufacturer for Apple, has reported an impressive 20.2% growth in Q3 revenue, primarily fueled by a surge in AI server demand. This growth successfully mitigated the impact of declining smartphone sales.

The company's vertical integration and global presence position it favorably as the intricacies of AI technology evolve and local production needs increase. With improved supply of Nvidia GPUs and new AI chip models emerging, further growth is anticipated, despite concerns about the future of EV contract manufacturing.

AI servers and cloud networking products accounted for a substantial 32% of sales. However, the long-term sustainability of tech investments in AI remains uncertain without a groundbreaking application to spur ongoing demand.

As Apple prepares to unveil its fiscal Q4 results, challenges persist with iPhone 16 demand falling short of expectations, leading to revised sales forecasts and heightened scrutiny of the smartphone market.

Related news on that topic:

Nvidia Navigates Market Fluctuations Amid High Demand

Nvidia stands at the forefront of the AI revolution, with its technology gaining substantial traction across industries. The collaboration with Chinese automaker Nio highlights Nvidia's Drive Orin AI chip's pivotal role in powering smart-driving systems. Meanwhile, the next-generation Blackwell platform is witnessing unprecedented demand from companies developing AI data centers, such as those for ChatGPT and Copilot. Despite Nvidia's buoyant stock performance, with a staggering rise of 170% over the past year, insider sales exceeding $1.8 billion have sparked concern. However, these sales, including those by CEO Jensen Huang, were pre-planned and do not necessarily indicate a bearish outlook. The company's strategic partnerships and robust market positioning continue to bolster investor confidence. As Nvidia gears up for its AI Summit, the focus remains on its transformative technology and consistent earnings growth. Traders like James "Rev Shark" DePorre perceive the current volatility as ripe for buying opportunities. While Nvidia's stock experiences fluctuations, the broader outlook remains positive, with analysts maintaining optimistic price targets. Nvidia's innovations and partnerships underscore its leadership in the AI sector, reinforcing its long-term growth potential.

Foxconn's Stellar Q3 Amid iPhone Demand Concerns

Foxconn has achieved remarkable success in the third quarter, reporting record revenue of T$1.85 trillion, a 20.2% year-over-year increase. This growth is largely attributed to the rising demand for AI servers and successful new product launches. The company's strong performance in September, with revenue reaching T$733 billion, has contributed to an impressive 86% rise in its stock this year. Conversely, Apple faces challenges as demand for the iPhone 16 appears to be weaker than expected. Shorter lead times and reduced interest in the Pro models, coupled with declining sales in China, are raising concerns. As Apple prepares to release its fiscal-fourth-quarter earnings, the market awaits insights on how the company will navigate these hurdles amidst increasing competition and regulatory challenges.

Read 5 more recent news on this topic

The press radar on this topic:

The Street
8. Oktober 2024 um 20:57

Analysts question iPhone 16 demand pace as Apple stock extends slide TheStreet Daily Newsletter

Technology
Finance
Politics
Apple stock slides as iPhone 16 demand trails forecasts, with shorter lead times, lower Pro model interest, and falling China sales. Apple plans to roll out AI-powered "Apple Intelligence" tools across its 2.2 billion-user base, but faces regulatory pressures and increased competition in the global smartphone market. Apple is scheduled to report fiscal-fourth-quarter earnings on Oct. 31, with early estimates of $1.60 EPS and $94.4 billion revenue.
The Street
5. Oktober 2024 um 22:57

Apple may have a big problem on its hands TheStreet Daily Newsletter

Economy
Technology
Analysts at Citi and Barclays have cut their iPhone unit forecasts for 2024 and 2025, citing softer demand for the iPhone 16 compared to previous models. Barclays' channel checks indicate that iPhone 16 orders have been reduced for the December quarter at a key Taiwanese supplier, while Citi expects the iPhone 16 to sell 83 million units this year, down from its previous estimate.
Yahoo Finance
5. Oktober 2024 um 07:40

Foxconn beats estimates with record third-quarter revenue on AI demand

Economy
Technology
Foxconn, Apple's biggest iPhone assembler, reported record Q3 revenue of T$1.85 trillion, up 20.2% YoY, exceeding the LSEG SmartEstimate. The results were driven by strong demand for AI servers, new product launches, robust cloud and networking products, and high September revenue of T$733 billion. Foxconn's shares have jumped 86% YTD. The company expects Q4 to be 'roughly in line with current market expectations', but does not provide numerical forecasts.
Yahoo Finance
5. Oktober 2024 um 08:33

IPhone Maker Hon Hai Sustains Revenue Rebound With Help From AI

Economy
Technology
Hon Hai, Apple's top manufacturer, posted record Q3 revenue growth of 20.2% driven by surging AI server demand, offsetting weak smartphone sales. Its vertical integration and global reach give it an edge as AI complexity rises and local production demand grows. Improved Nvidia GPU supply, new AI chip models, and stabilizing smartphone/PC demand could drive further upside, though EV contract manufacturing may be lackluster. Cloud and Networking Products, including AI servers, contributed 32% of..
CW

Account

Waiting list for the personalized area


Welcome!

InfoBud.news

infobud.news is an AI-driven news aggregator that simplifies global news, offering customizable feeds in all languages for tailored insights into tech, finance, politics, and more. It provides precise, relevant news updates, overcoming conventional search tool limitations. Due to the diversity of news sources, it provides precise and relevant news updates, focusing entirely on the facts without influencing opinion. Read moreExpand

Spotlighting today's most mentioned stocks in the media. Uncover the stories making waves in the stock market:

A closer look at the individuals who are leading today's news narratives. Find out what makes them the center of attention.

Exploring the five locations receiving the most media attention in the last 24 hours. Discover what puts these places in the global spotlight

Your World, Tailored News: Navigate The News Jungle With AI-Powered Precision!

News

All News
Politics
Technology
Economy
Business
Climate

About

About Us
Team + Mission

Legal

Cookie Settings
Disclaimer
Legal Notice
Data Privacy

Contact

Contact