Nvidia partner Foxconn beats profit expectations on AI and dual-screen iPhone

November 12: Hon Hai Precision Industry Co., Ltd. reported quarterly profit exceeding analyst expectations, driven by the AI boom and strong consumer demand for the $2,000 dual-screen iPhone.

For the three months ended September, net profit rose 34% to NT$77.5 billion, compared with an average analyst estimate of NT$70.3 billion. Hon Hai aims to capture half of the AI server market share within two years and raise its gross margin to about 10% by producing more high-value components.