"AI Boosts iPhone Maker Hon Hai's Profit by 33%"
Hon Hai Precision Industry Co., the world’s largest assembler of Apple Inc.’s iPhones, reported a 33% rise in net income to NT$53.2 billion ($1.7 billion) in the quarter ended December, buoyed by lucrative AI hardware sales that helped offset weakness in iPhone and electronics demand. The company’s shares are up more than 15% this year, driven by growing optimism about its opportunity to benefit from demand for artificial intelligence servers and hardware. Despite challenges, including a down year for iPhone sales, analysts see Hon Hai likely to gain a growing share of AI business, with JPMorgan estimating its AI revenue and gross profit exposure to be in the 10-12% range in 2025.