|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||5.81 - 5.95|
|52 Week Range||3.87 - 6.23|
|Beta (5Y Monthly)||0.73|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.29 (4.91%)|
|Ex-Dividend Date||Jul 23, 2020|
|1y Target Est||N/A|
Following a request from Apple, Foxconn could be shifting production out of China for some iPad and MacBook models according to a report from Reuters. The new assembly lines would be based in Vietnam. The Taiwanese manufacturer is Apple’s main production partner.
(Bloomberg) -- Supply Lines is a daily newsletter that tracks Covid-19’s impact on trade. Sign up here, and subscribe to our Covid-19 podcast for the latest news and analysis on the pandemic.Foxconn Technology Group will move the manufacturing of some Apple Inc. iPads and MacBooks to Vietnam from China, a person familiar with the matter said, as the company aims to mitigate the risk that a trade war with the U.S. could continue after U.S. President Donald Trump leaves the White House.The person asked not to be identified because the plans are still private. The company, whose formal name is Hon Hai Precision Industry Co., is building assembly lines for Apple’s tablet and notebook products at its plant in the northern Vietnamese province of Bac Giang, which will come online in the first half of 2021, Reuters reported earlier Thursday, citing an unidentified person familiar with the plan.Apple didn’t immediately respond to an email seeking comment. Foxconn said in a statement it doesn’t comment on its work for specific customers.Read more: Apple’s Shifting Supply Chain Creates Boomtowns in Rural VietnamDuring the Trump era, many manufacturers have been shifting production capacity from China to countries including Vietnam, Mexico and India to avoid being slapped with punitive tariffs and to hedge against geopolitical risks.Apple’s partners have ramped up iPhone production capacity in India, and companies that assemble AirPods have added some assembly lines in Vietnam.Foxconn announced $270 million of new investments earlier this week, which a person familiar with the company’s operations said was for Vietnam.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Foxconn is moving some iPad and MacBook assembly to Vietnam from China at the request of Apple Inc, said a person with knowledge of the plan, as the U.S. firm diversifies production to minimise the impact of a Sino-U.S. trade war. The development comes as the outgoing administration of U.S. President Donald Trump encourages U.S. firms to shift production out of China. During Trump's tenure, the United States has targeted made-in-China electronics for higher import tariffs, and restricted supplies of components produced using U.S. technology to Chinese firms it deems a national security risk.