Apple Supplier Foxconn’s Sales Decline Despite China Reopening
source link: https://finance.yahoo.com/news/apple-supplier-foxconn-sales-decline-083907705.html
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.
Apple Supplier Foxconn’s Sales Decline Despite China Reopening
(Bloomberg) -- Hon Hai Precision Industry Co.’s February sales fell 11.7% from a year earlier, despite a boost for the iPhone assembler from China’s reopening.
Most Read from Bloomberg
The Apple Inc. supplier, also known as Foxconn, said monthly revenue dropped to NT$402 billion ($13 billion) last month. Still, first-quarter outlook is “roughly in line with market expectation,” based on sales figures in the last two months, Hon Hai said in a statement Sunday.
Lunar new year holidays in China occurred in January this year while in 2022 they took place in February.
Output at the Taiwanese company’s vast iPhone assembly complex in the Chinese city of Zhengzhou largely resumed normal operations in January, following disruptions from a Covid outbreak. Attention is on how the popularity of iPhones holds up, with overall smartphone demand faltering worldwide.
Hon Hai plans to invest about $700 million on a new plant in India to ramp up production there, as more manufacturers shift away from China to reduce the potential fallout from growing Washington-Beijing tensions.
Most Read from Bloomberg Businessweek
©2023 Bloomberg L.P.
TipRanks‘2023 Rally Was a Bull Trap,’ Says Morgan Stanley. But These Stocks Still Have Upside
March has entered the frame and comes in the wake of two contrasting months. The year started off with stocks in a hurry to put 2022’s miserable action to bed, pushing higher right out of the gates. Yet, February proved a wake-up call for those anticipating a full-on bull market, as many stocks pared back a big chunk of those gains. So, what’s next? Morgan Stanley’s Chief Investment Officer Mike Wilson says 2023’s early rally was a ‘bull trap.’ Wilson predicts more pain ahead for investors, call
4h ago
BloombergStock Market’s Fate Comes Down to the Next 13 Trading Sessions
(Bloomberg) -- Four major events over the next 13 trading sessions will be the key catalysts in determining whether this year’s stock-market revival gets derailed or starts rolling again after a February slump.Most Read from BloombergStock Market’s Fate Comes Down to the Next 13 Trading SessionsMortgage Lenders Are Selling Homebuyers a LieChina’s Cautious Growth Target Gives World Economy Little HelpWorld’s Riskiest Markets Stumble Into Crisis With Dollars ScarceForget Peak Oil Demand: A Thirst
12h ago
Barrons.comTesla Did Drop an Event Bombshell. It’s Trying to Disrupt With More Than EVs.
The reaction to Tesla's March 1 investor event was muted, but CEO Elon Musk said something important that could change the car business forever.
9h ago
SmartAssetI'm Retiring. Can I Live Off the Interest I Made Investing $2 Million?
For older Americans, living off the interest and returns of your retirement account is how retirement is structured. The goal is that by the time you hit your late 60s you will ideally have enough saved up to coast indefinitely. … Continue reading → The post How Much Interest Does $2 Million Pay Monthly? appeared first on SmartAsset Blog.
14h ago
TheStreet.com3 Stocks Yielding Over 5% With Monthly Dividend Payouts
Investors can streamline their passive income cash flow to match their monthly expenses by purchasing dividend stocks that pay distributions to shareholders every month.
2d ago
MoneyWise'The only people that are going to save us, is us’: Suze Orman is one of many experts warning Social Security is in trouble — here’s what you can do to take control of your retirement
A critical Social Security fund is projected to run out by 2035 — but that could happen even sooner.
13h ago
MoneyWise‘Financial illiteracy is an epidemic’: Americans lost an average of over $1,800 to financial errors in 2022 — here are 3 big money mistakes you could be making right now
You can take these tips to the bank — literally.
17h ago
InvestopediaTop Reasons Not To Roll Over Your 401(k) To an IRA
Five cases in which keeping your plan in place—or employing another non-IRA strategy—is the better move.
11h ago
Investor's Business DailyCheap Stocks To Buy: Should You Watch These 5 Growth Stocks?
Regardless of what stage of the market cycle we're in, some folks never tire of searching for cheap stocks to buy. If it has thin trading volume, the fund manager will have an awfully tough time accumulating shares — without making a big impact on the stock price. IBD research also finds that dozens, if not hundreds, of great stocks each year do not start out as penny shares.
1d ago
MoneyWiseNew phase, new you: Here are 3 crucial things you must let go of in retirement. Most folks can't do it — but can you?
Change doesn't have to be bad.
2d ago
BloombergOil Investors Get $128 Billion Handout as Doubts Grow About Fossil Fuels
(Bloomberg) -- Worldwide oil demand is racing toward an all-time high and some of the smartest minds in the industry are forecasting $100-a-barrel crude in a matter of months, but US producers are playing the short game and looking to turn over as much cash as possible to investors.Most Read from BloombergStock Market’s Fate Comes Down to the Next 13 Trading SessionsMortgage Lenders Are Selling Homebuyers a LieChina’s Cautious Growth Target Gives World Economy Little HelpWorld’s Riskiest Markets
2d ago
TheStreet.comMcDonald's Quietly Adds One of Wendy's Most Popular Menu Items
McDonald's the world's largest fast-food chain when it comes to sales, and holding that title is a big job. McDonald's arguably has the best fountain Coke you can find anywhere. McDonalds, also has what some would argue are the best french fries you can get from any fast-food chain.
10h ago
MoneyWise'I don't see myself retiring at all': 'Soft saving' is Gen Z's firm but gentle response to FIRE and hustle culture — here's how to make it work for you
Goodbye girl boss era, hello girl moss era.
15h ago
TheStreet.comTesla Rival Rivian Has Good News for EV Buyers
The EV upstart is optimistic about its ability to produce more vehicles this year than previously anticipated, according to Bloomberg News.
13h ago
InvestopediaPowerful Vanguard Mutual Funds for Your Roth IRA
Some Vanguard funds are better than others for a Roth IRA. Investors use these funds to diversify with equities, bonds, and real estate investment trusts.
1d ago
MarketWatchStock market faces crucial test this week: 3 questions that could decide rally’s fate
Investors await a marquee report on the state of the U.S. labor market, along with testimony by Fed Chair Jerome Powell amid rising Treasury yields.
11h ago
TheStreet.comMcDonald's New Take on the Big Mac Hits North America
While rival Burger King uses its famed Whopper as a platform to launch all sorts of new products, McDonald's has been very protective of the Big Mac.
1d ago
FortuneGoldman Sachs is among the suitors hoping to buy Subway for an estimated $10 billion: Report
Goldman Sachs' asset management arm is one of at least a handful of potential Subway buyers, Sky News reported Saturday.
1d ago
SmartAssetCan I Use My 401(k) to Pay Off My Mortgage?
The government offers several incentives for retirement accounts like 401(k)s. For instance, they're a tax-deferred investment, meaning you won't pay taxes on them until you withdraw. 401(k) deposits also don't count as taxable income during the year that you make them, … Continue reading → The post Using Your 401(k) to Pay Off Your Mortgage appeared first on SmartAsset Blog.
14h ago
InvestopediaRetirement: What Happens If a Spouse Dies?
For 401(k) plans and other pension plans, federal law requires a spouse as the primary beneficiary, and choosing any other beneficiaries for those plans requires spousal waiver and consent. Without named beneficiaries, retirement accounts will go to your estate and be processed through probate.
10h ago
Recommend
About Joyk
Aggregate valuable and interesting links.
Joyk means Joy of geeK