Apple supplier Foxconn Q1 profit rebounds, but misses expectations
), clocked a sharp increase in its first-quarter profit as the Taiwanese electronics giant benefited from increased demand for server technology, although it still missed expectations.
A bulk of the quarterly profit jump came from a lower base for comparison from last year, when the company was grappling with a pronounced decline in electronics demand. Foxconn said it expected consumer electronics demand to remain weak in the near-term, but that it also saw stronger demand for cloud infrastructure and computing products, especially on the back of AI.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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