Apple supplier Foxconn beat estimates for second-quarter earnings on Monday thanks to a booming artificial intelligence sector.
beat estimates for second-quarter earnings on Monday thanks to a booming artificial intelligence sector but retained a cautious outlook for this year due to global economic uncertainties.
"At present there are many external variables: global monetary policy tightening, geopolitical tensions, inflation and other uncertainties," Chairman Liu Young-way said, describing Foxconn's outlook as "relatively cautious". Foxconn, which sees a growing EV contract manufacturing market, said it is very likely to mass produce electric vehicle batteries at its troubled site in Wisconsin.Foxconn has made electric vehicles, or EVs, a big part of its diversification plans, and has also hired a formerWithin the AI server supply chain, Foxconn has won a "very high" market share for GPU modules and substrates, Liu said.
The Taiwanese company said net profit for the April-June quarter slipped to T$33 billion from a revised T$33.29 billion in the same period the previous year.
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