Shares of Hon Hai Precision Industry jumped to a record high after posting the strongest monthly revenue growth since early 2023, potentially raising expectations for sales of iPhone and AI servers.
The company, which assembles the majority of Apple’s smartphones, reported a 19% increase in monthly revenue to NT$510.9 billion ($15.8 billion), compared with NT$429.2 billion in April 2023. That was a record for the month, Hon Hai said in a statement. The stock price rose as much as 6.7% on Monday, the highest intraday level in about two weeks.
Hon Hai, also known as Foxconn, makes most of the world’s iPhones but is diversifying to put more emphasis on building server racks in data centers and other equipment for artificial intelligence clusters.
