Why Shares of Nvidia Are Rising to End the Week [Yahoo! Finance]
HON HAI PRECSON S/GDR NEW (HNHPF)
NASDAQ:AMEX Investor Relations:
foxconn.com/investors_en/investors.html
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Source: Yahoo! Finance
While there was no obvious catalyst behind the move, the stock market rebounded today after another difficult week and Nvidia also seems to be benefiting after a positive update from one of its suppliers. AI demand still on solid footing Taiwan-based Foxconn, also known as Hon Hai Precision Industry , reported fourth-quarter net income of $1.41 billion, which missed analyst estimates and also declined 13% year over year. However, management on an earnings call said it expects demand from its AI server business to more than double in the first quarter of 2024, according to Reuters. Chairman Young Liu said on the call: We have not seen CSP [cloud service providers] demand slowing down. There are [market] rumors that CSP demand will peak this year, and then it will go down next year. But we are not seeing that ... at least for Foxconn. Liu added that AI server revenue should make up over half of Foxconn's total server revenue in 2025 and that it is increasing production for Nvi
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