Market Overview

Foxconn Earnings Weren't Great, Offer Few Hints About iPhone 8 Demand

Share:
Foxconn Earnings Weren't Great, Offer Few Hints About iPhone 8 Demand

Foxconn Technology Group, also known as Hon Hai Precision Industry, is a key member of Apple Inc. (NASDAQ: AAPL)'s supply chain and some investors pay close attention to the Taiwan-based company for any iPhone related hints in its news releases and earnings reports.

On Friday, Foxconn announced a huge earnings miss in its recent quarter in which net income fell 25 percent short of what analysts were expecting, iPhone 8.

Taiwan-based Yaunta is modeling Foxconn to ship 147 million iPhones this year, which marks a decrease from 148 million last year. But on the other hand, Apple assemblers are projected to ship a total of 216 million iPhones this year which marks a notable uptick from 201 million units in 2016.

In short, Foxconn's earnings report offers few concrete hints related to demand for the iPhone 8, and a possible delay in mass production of the new phone may imply investors won't find any answers in Foxconn's third-quarter results. After all, not even Apple's CEO Tim Cook himself knows how many new iPhones it will sell this year, Culpan stated.

Related Links:

Deutsche Bank Sees Apple Downside To $140 Following Q3 Earnings Report

If The iPhone 8 Is Delayed, Will Anyone Care?

Posted-In: Apple Supply Chain foxconn iPhone iPhone 8 iPhone ShipmentsTop Stories Tech Media Best of Benzinga

 

Related Articles (AAPL)

View Comments and Join the Discussion!

Benzinga's Top Upgrades, Downgrades For August 14, 2017

Investors Sticking With Emerging Markets ETFs