Foxconn Slashes Outlook Despite AI Boom

Foxconn Revises 2024 Forecast

Foxconn has downgraded its 2024 growth expectations due to the appreciation of the New Taiwan dollar, which has negatively affected its profit margins, according to a statement to investors. This comes despite demand growth in sectors like AI.

AI Growth Doesn’t Offset Currency Woes

As a major supplier to Nvidia and other AI hardware manufacturers, Foxconn remains a central player in the AI supply chain. However, the firm’s conservative revision highlights how macroeconomic factors such as currency strength can outweigh technological momentum in earnings forecasts.