Reported about 21 hours ago
TE Connectivity has provided a positive forecast for its first-quarter earnings, exceeding Wall Street expectations thanks to robust demand for its AI-related products. As a result, shares rose by 9% in premarket trading. CEO Terrence Curtin highlighted significant investments in AI from major tech firms and mentioned that the company's annual revenue from AI has tripled, contributing to growth in non-AI products as well. The fourth quarter showed a remarkable rise in sales by over 34% in its industrial solutions segment.
Source: YAHOO