- Apple supplier Foxconn/Hon Hai (OTCPK:HNHAF, OTCPK:HNHPD) reports Q3 net profits of $805.52M, up 18% Y/Y but below the $916.85M consensus.
- Last week, the company reported October sales were up 21.5% Y/Y.
- Analysts say Apple shifting from metal to glass for the bottoms of the iPhone 8 and iPhone X hurt Foxconn, the metal part supplier.
- Foxconn is also seen as the key assembler of the iPhone XR model, which is reportedly suffering from low enough sales that Apple cut plans for production expansion.
- The Foxconn report could weigh on Apple and its suppliers following yesterday’s guidance cut from 3D sensor supplier Lumentum.
- Previously: Apple suppliers drop on Lumentum guide, iPhone target cuts (Nov. 12)
- Previously: Report: Apple cancels iPhone XR output boost (Nov. 5)
Foxconn misses Q3 profit estimates
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Symbol | Last Price | % Chg |
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HNHAF | - | - |
Hon Hai Precision Industry Co., Ltd. |