News
Foxconn Forecasts Strong Revenue Growth Driven by AI Server Demand
Foxconn, an Apple supplier, expects a significant revenue boost from high demand for AI servers, following a 33% profit surge in Q4. Chairman Young Liu anticipates over 40% revenue growth in the AI server business, aligned with the market's 30% annual growth. Despite projecting strong 2024 growth, Foxconn warns of lower Q1 revenue due to a prior year's post-lockdown sales spike in China. The company also plans to match or exceed 2023's 14% capital expenditure growth, focusing on diversification into electric vehicles and semiconductors.n
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