The market generally believes that the new AI features will drive Apple to usher in a new round of device upgrades. The target for the Apple iPhone 16 series inventory has been slightly increased to about 90 million units. Affected by this news, Apple's stock price has reached a new high again, with a total market value close to $3.5 trillion, surpassing Microsoft to return to the top of the US stock market.
Affected by the positive news, as an entrant into the Apple supply chain, Foxconn Precision Industry's stock price experienced a reversal within two days. On July 9th, influenced by the rise in Apple's stock price, Foxconn Precision Industry's stock price soared by 21%, closing at 3.7 Hong Kong dollars per share, with the latest market value of 26.9 billion Hong Kong dollars.
On July 8th, Foxconn Precision Industry issued a performance profit and business update announcement, but the stock price plummeted by 14%. The announcement showed that Foxconn Precision Industry expected a net profit of about $28 million to $33 million in the first half of the year, while recording a net loss of about $9 million in the same period last year, mainly due to improved management efficiency and the recovery of market demand for computer and network facility terminals.
Financial data shows that Foxconn Precision Industry's net profit from continuing operations in the first quarter was $10.201 million, and it is estimated that the net profit in the second quarter will be about $17.799 million to $22.799 million, with a sequential growth of 74.5% to 123.5%.
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Goldman Sachs' research report points out that the shipment momentum of the two major products, iPhone and AI servers, is the key to driving Foxconn Group's future operational growth. Foxconn Precision Industry is a subsidiary of Foxconn Group, and its main business includes mobile phone components, network facilities, etc.