Taiwan’s Foxconn, also known as Hon Hai Precision Industry Co. (OTC:HNHPF), the world’s largest contract electronics maker and key Apple Inc. (NASDAQ:AAPL) supplier, is set to report Thursday that second-quarter profit rose 11% amid surging artificial intelligence server demand.
Strong AI Server Demand Fuels Growth
Net profit for April-June likely reached 38.8 billion TWD ($1.30 billion), up from 35.05 billion TWD ($1.17 billion) year-over-year, according to LSEG consensus estimates, via a Reuters report. The electronics giant, formerly known as Hon Hai Precision Industry, reported record second-quarter revenue last month, driven by robust demand for AI products.
Foxconn serves as Apple’s top iPhone assembler and manufactures servers for Nvidia Corp. (NASDAQ:NVDA), positioning …