Reported 8 months ago
Foxconn's stock price surged 7% this week, playing a key role in driving Taiwan's stock market to new highs as reported by journalist Cui Xinfang in Taipei. Goldman Sachs mentioned in a recent stock report that Foxconn is benefiting from the high demand for iPhones with AI technology and AI servers, which will boost future profits. They recommend a 'buy' rating with a target price raised from 227 yuan to 257 yuan, the highest among foreign investors. Foxconn's electronic business is expected to increase by 1% and 2% in 2025 and 2026 due to the increase in iPhone shipments with AI features. Additionally, AI server production will contribute to revenue, with the revenue ratio expected to reach 13% and 19% in 2024 and 2025 respectively.
Source: YAHOO