Apple assembler Foxconn’s Q3 profit rises 14%, beats forecasts

The logo of electronics contract manufacturer Foxconn Technology Group, formally known as Hon Hai Precision Industry, is displayed at its headquarters in Taipei. Photo: Agence France-Presse

Major Apple assembler Foxconn reported on Thursday a 14% rise in third-quarter net profit, driven in part by strong AI server demand.

Reuters:
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The Taiwanese company, the world’s largest contract electronics maker, reported net profit for the July-September quarter rose to T$49.3 billion ($1.5 billion) from T$43.1 billion in the same period the previous year, according to Reuters calculations.

The profit beat analysts’ average estimate of T$46.3 billion.

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MacDailyNews Take: Should provide some support to AAPL as it bops around $225.

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