Foxconn has immense confidence in growth momentum due to AI, chairman says
Corroborated by 2 sources from 2 publishers
TL;DR
NEW TAIPEI, Taiwan, May 29 (Reuters) - Taiwan's Foxconn, the world's largest contract electronics manufacturer, has immense confidence in its growth momentum because of soaring AI demand, Chairman Young Liu said on Friday. The traditional mid-year seasonal slump for tech suppliers no longer happens, Liu told an annual shareholders meeting in New Taipei, adding that he was very optimistic about the second half of the year. "Unless a highly severe 'black swan' event occurs - which I haven't seen, and there are currently no signs of - based on what we see now, the second half of the year looks very good." Foxconn, which is Nvidia's biggest server maker and Apple's top iPhone assembler, this month reported a forecast-beating 19% rise in first-quarter profit.