Foxconn Record Q1, it says it must be seen closely with global policy

TAIPEI (Reuters) -Foxconn in Taiwan, the largest electronics manufacturing company in the world, has published its highest revenue in the first quarter ever on strong demand for artificial intelligence products, but said it would need to see global policy closely.

Foxconn said in a statement on Saturday, Apple’s Apple’s largest iPhone Assembler has jumped 24.2 % year on year to $ 1.64 trillion ($ 49.5 billion).

Foxconia, whose customers include NVIDIA, said the strong demand of artificial intelligence led to a strong growth in revenue for the department of its cloud products and networks.

He said that the smart consumer electronics, which include iPhone devices, was “Flattish” on an annual basis.

March revenue increased 23.4 % on an annual basis to $ 552.1 billion, a record in March.

Foxconn said that she expects to grow in this quarter of the previous three months and from the same period last year, but warned: “The influence of advanced global political and economic conditions will need continuous monitoring.”

He did not explain.

US President Donald Trump slapped an additional 34 % tariff this week on Chinese goods, raising the total new fees this year to 54 % on the country. The Chinese city of Zhengzhou is the home of the world’s largest iPhone manufacturing facility, run by Foxconn.

Trump also put a 32 % tariff on Taiwan, although the largest part of the Foxconn factories is located outside.

The company, officially called Hon Hai Precision Industry, does not provide numerical expectations. The first quarter profit reports on May 14.

Foxconn’s shares jumped by 76 % last year, outperformed 28.5 % in the Taiwan market, but have decreased by 17 % so far this year, reflecting wider pressure on the technology shares shook by Trump’s bustling policy.

The stock closed by 1 % on Wednesday before revenue data, compared to an increase of 0.1 % for the measurement index. The financial markets in Taiwan were closed on Thursday and Friday to spend a vacation.

($ 1 = 33.1610 Taiwan dollars)

(Participated in the reports of Bin Blancard; Liberation of William Malaard)