Apple supplier Foxconn posts record profit, raises outlook Sam Boughedda Thu, November 12, 2026 at 9:48 AM EST 2 min read 2317.TW -0.83% AAPL +0.81% Trade Apple on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Investing.com -- Foxconn, a key Apple supplier, reported record third-quarter profit on Thursday and raised its full-year outlook for all four of its main business segments, driven by strong demand for AI servers.
Our AI stock portfolio is beating the S&P 500 by 118%. Discover the stocks we're buying and the opportunities we're watching next. Exclusive for Yahoo! Finance readers: 55% off for Black Friday, plus an extra 15% at checkout. Subscribe today! »
Net profit rose 34% year over year to 77.5 billion New Taiwan dollars, about 10% above both Citi's and Street estimates.
Revenue jumped 46% to 3.02 trillion New Taiwan dollars, while operating profit surged 64% to 115.4 billion New Taiwan dollars. EPS rose to 5.51 New Taiwan dollars from 4.15 a year earlier.
Cloud and networking products, boosted by AI servers, made up 54% of quarterly revenue, becoming the group's largest business. Chairman Young Liu said AI servers have become Foxconn's most significant growth engine.
For the fourth quarter, Foxconn expects strong growth both sequentially and from a year earlier, helped by shipments of a new generation of AI server racks and the peak season for consumer electronics such as smartphones.
Stop chasing stocks after they've already rallied. Find your next investment opportunity with AI stock picks, earnings insights, and market-moving news. Yahoo! Finance readers get an extra 15% off on top of the 55% off Black Friday price. Join today! »
However, computing product segment "continues to be affected by tight memory supply, leading a likely slight decline quarter-over-quarter."
Foxconn also expressed optimism about 2027, though it warned that shortages of chips, memory and other key components are expected to persist, with demand continuing to exceed supply next year.
"Despite recent AI deployment concern, management sees strong growth outlook into 4Q26 and 2027 and expects further profitability improvement," the bank wrote.
Citi added that Foxconn has gained market share in the latest generation of AI racks and expects shipments to rise by a high-double-digit percentage in the fourth quarter. It also sees growing work on custom AI chips for cloud providers as a way to diversify Foxconn's AI revenue.
Apple supplier Foxconn posts record profit, raises outlook
Paysafe tumbles 30% on earnings miss and weak guidance
