|Bid||62.00 x 0|
|Ask||62.10 x 0|
|Day's Range||61.60 - 62.20|
|52 Week Range||57.50 - 80.00|
|Beta (3Y Monthly)||1.51|
|PE Ratio (TTM)||9.96|
|Earnings Date||Aug 12, 2019 - Aug 16, 2019|
|Forward Dividend & Yield||3.60 (5.85%)|
|1y Target Est||69.41|
Foxconn promised to create thousands of jobs in the U.S. but instead it's sending jobs to Mexico. Wisconsin state Assemblyman Gordon Hintz is concerned that Foxconn is trying to back out of its multibillion dollar deal with the state.
Taiwan's Foxconn, the world's largest contract manufacturer, reported on Tuesday a bigger fall in quarterly profit than analysts had expected, amid waning demand for electronics from its key customers, including Apple Inc. Foxconn, formally known as Hon Hai Precision Industry Co Ltd, reported net profit of T$19.82 billion (491.9 million pounds) for the first three months of 2019, down 17.7% from the same period a year earlier, the company said in a statement. Arthur Liao, an analyst at Fubon Research in Taipei, said ahead of the results that despite slowing Apple iPhone sales, Foxconn is set to benefit from the launch of new iPhone models, expected later this year.
Chinese artificial intelligence (AI) provider Megvii Technology Ltd, commonly known as Face++, said on Wednesday it raised $750 million in its latest funding round. The funding raises start-up Megvii's valuation to slightly over $4 billion as it prepares for an initial public offering (IPO) in Hong Kong planned for later this year, said two sources with knowledge of the matter. Bank of China Group Investment (BOCGI) Ltd, the state bank's private equity arm, led the fundraising with $200 million, they said.
The chairman of Apple supplier Foxconn said on Monday he wanted Beijing to recognise the existence of Taiwan, as he outlined his plans to be the peacemaker between China, the United States and the self-ruled island Beijing sees as its own. Billionaire Terry Gou, who said last month he would run for president of Taiwan in 2020, met U.S. President Donald Trump last week to discuss the status of the Taiwan company's planned investment in Wisconsin.
Democratic Governor Tony Evers, who took office in January, inherited a deal to give Foxconn around $4 billion in tax breaks and other incentives that was championed by Scott Walker, Evers' Republican predecessor. Announced at a White House ceremony in 2017, Foxconn's 20-million-square-foot campus marked the largest greenfield investment by a foreign-based company in U.S. history and was praised by President Donald Trump as proof of his ability to revive American manufacturing. Foxconn, a major supplier to Apple Inc, has pledged to eventually create 13,000 jobs in Wisconsin, but said earlier this year it had slowed its pace of hiring.
Taiwanese manufacturer Foxconn reported a smaller than expected fall in quarterly profit, despite warning signs from key customers including Apple Inc that demand for tech electronics is softening. Foxconn, formally known as Hon Hai Precision Industry Co Ltd, reported net profit of T$62.61 billion ($2.03 billion) for the final three months of 2018 on Friday. It was also the biggest quarterly profit the company has posted for 2018.
The engineer, Guangzhi Cao, copied more than 300,000 files related to Autopilot source code as he prepared to join China's Xiaopeng Motors Technology Company Ltd, the Silicon Valley carmaker said in the lawsuit filed in a California court. Separately, Tesla lawyers on Wednesday filed a lawsuit against four former employees and U.S. self-driving car startup Zoox Inc, alleging the employees stole proprietary information and trade secrets for developing warehousing, logistics and inventory control operations. In a statement, Xiaopeng spokeswoman Marie Cheung said the company was not aware of Cao's alleged misconduct and that the company has started an internal investigation on the matter.
Foxconn initially planned to manufacture advanced large-screen displays for TVs and other consumer and professional products at the Wisconsin plant. It later said it would build smaller Generation 6 LCD screens instead. The initial Gen6 facility will manufacture screens for education, medical and healthcare, entertainment and sports, security, and smart cities products, Foxconn said Monday.
Japan's SoftBank Group has provided nearly half of the cash for Abu Dhabi's state investor Mubadala Investment Co's new $400 million fund investing in European start-ups, a source familiar with the matter said. Mubadala, which has committed to invest $15 billion in SoftBank's Vision Fund, last week announced that Mubadala Ventures was planning to launch a $400 million technology-focused European fund this year. Softbank and Mubadala declined to comment on the story, first reported by the Financial Times earlier on Monday.
As Foxconn keeps changing its plans for its Wisconsin plant, a state representative has no idea what will happen.
WASHINGTON/CHICAGO (Reuters) - Foxconn Technology said on Friday it will build a factory in Wisconsin after the company's chairman spoke to U.S. President Donald Trump, following a Reuters report earlier this week that the Taiwanese company was reconsidering its plans. Reuters reported that Foxconn was reconsidering making liquid crystal display panels at a planned $10 billion Wisconsin campus and intended to hire mostly engineers and researchers there. It was praised by Trump as proof of his ability to revive American manufacturing.
Next month we will commemorate the installation of the first Exposure System in Guangzhou", the company told Reuters in an email. The Nikkei report came amid trade tensions between the United States and China on issues such as tariffs, industrial subsidies, intellectual property and cyber security.
Smartphone makers in India are calling for export credits on devices and tariff cuts on machinery imports as part of measures they say will make Asia's third-biggest economy a global smartphone manufacturing hub. The India Cellular and Electronics Association (ICEA), whose members include some of the industry's biggest names including Apple Inc, made the proposals in a 174-page document reviewed by Reuters and submitted to the government ahead of its annual budget announcement next week. "As the country is nearing to achieve saturation point... without an export take off manufacturing growth cannot be sustained and accelerated," the ICEA said in the document.