Foxconn Sees Significant Growth Driven by AI Demand
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 14 2024
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Source: WSJ
- Foxconn's Financial Performance: Foxconn Technology Group reported a 33% increase in fourth-quarter net profit.
- Forecast for Growth: The company foresees significant growth this year, driven by investments in artificial intelligence.
- Clientele and Products: Foxconn serves clients like Apple and Sony, manufacturing servers and devices used in AI applications.
- Revised Outlook: Despite a cautious outlook for 2024 earlier, Foxconn now expects substantial growth due to the AI boom.
- AI Investments: The company's focus on AI technology is expected to fuel its expansion and performance in the coming year.
Analyst Views on AAPL
Wall Street analysts forecast AAPL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for AAPL is 299.69 USD with a low forecast of 230.00 USD and a high forecast of 350.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
32 Analyst Rating
19 Buy
11 Hold
2 Sell
Moderate Buy
Current: 248.350
Low
230.00
Averages
299.69
High
350.00
Current: 248.350
Low
230.00
Averages
299.69
High
350.00
About AAPL
Apple Inc. designs, manufactures and markets smartphones, personal computers, tablets, wearables and accessories, and sells a variety of related services. Its product categories include iPhone, Mac, iPad, and Wearables, Home and Accessories. Its software platforms include iOS, iPadOS, macOS, watchOS, visionOS, and tvOS. Its services include advertising, AppleCare, cloud services, digital content and payment services. The Company operates various platforms, including the App Store, that allow customers to discover and download applications and digital content, such as books, music, video, games and podcasts. It also offers digital content through subscription-based services, including Apple Arcade, Apple Fitness+, Apple Music, Apple News+, and Apple TV+. Its products include iPhone 16 Pro, iPhone 16, iPhone 15, iPhone 14, iPhone SE, MacBook Air, MacBook Pro, iMac, Mac mini, Mac Studio, Mac Pro, iPad Pro, iPad Air, AirPods, AirPods Pro, AirPods Max, Apple TV, Apple Vision Pro and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
