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Top related persons:
Foxconn - 3 Ben Blanchard - 2 Tim Cook - 1 Smart Lander - 1 Kenji Kushiki - 1 SLIM - 1 Sreeram Ananthasayanam - 1 Tim Kelly - 1
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Sharp Corp - 4 Thomson - 3 Hai Precision Industry Co - 2 Apple Inc - 2 Taiwan - 2 Apple - 2 Japan Aerospace Exploration Agency - 1 JAXA - 1

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7 mentions found


☆ Apple supplier Foxconn's first-quarter profit jumps 72% but misses forecasts
  + stars: | 2024-05-14 | by ( ) www.cnbc.com   time to read: +1 min
Apple supplier Foxconn reported a 72% rise in first-quarter profit, boosted by strong demand for AI servers and coming off a low base from the period a year earlier, but the growth was lower than expected. While the profit missed the T$29.31 billion forecast by analysts, it was Foxconn's third consecutive quarterly profit rise. In the first quarter, consumer electronics including smartphones accounted for 48% of its revenue while cloud and networking products, including servers, contributed 28%. Apple's quarterly results and forecast beat modest expectations this month, nd CEO Tim Cook said revenue growth would return in the current quarter. Foxconn's shares have risen 65% so far this year, driven by its rosy AI outlook, far outperforming a 17% gain for the broader market.
Persons: Foxconn, Tim Cook Organizations: Sharp Corp, Hai Precision Industry Co
☆ Japan's 'moon sniper' to test precision landing - and Tokyo's space ambitions
  + stars: | 2023-09-06 | by ( ) www.reuters.com   time to read: +3 min
TOKYO, Sept 6 (Reuters) - Japan aims to become the fifth country to land a spacecraft on the lunar surface with the launch of a low-cost "moon sniper" on Thursday that will test precision landing technology designed to further Tokyo’s space goals. Japan's efforts to build a homegrown space industry are also on display: The lander was assembled by Mitsubishi Electric (6503.T), using its landing radars, computers and transponder. That made India the fourth country to land a spacecraft on the moon after the United States, Russia and China. "Precise landing technology gives the ability and confidence for future human space exploration missions. In return, Washington has promised Japan seats on future crewed Artemis missions to the moon.
Persons: Smart Lander, Kenji Kushiki, SLIM, Sreeram Ananthasayanam, Tim Kelly, Nivedita, David Dolan, Kevin Krolicki, Gerry Doyle Organizations: Japan Aerospace Exploration Agency, JAXA, Tanegashima Space, Mitsubishi Heavy Industries, Nectaris, Mitsubishi Electric, Sharp Corp, Electric, Deloitte India, NASA, U.S, Thomson Locations: TOKYO, Japan, India, Delhi, United States, Russia, China, Luna, Washington
☆ Guggenheim predicts a moderate recession in 2024. Here are three steps to shore up your portfolio
  + stars: | 2023-08-09 | by ( Darla Mercado | Cfp | ) www.cnbc.com   time to read: +2 min
A soft landing for the economy is looking unlikely, and now is the time to prepare your portfolio for a rocky 2024, according to Maria Giraldo of Guggenheim Investments. Contrary to the soft landing — and interest rate cuts — expected by many investors, Guggenheim sees a moderate recession looming in the new year. Instead, Guggenheim predicts both an economic downturn and lower interest rates in 2024. "We're seeing the impact of higher interest rates and higher funding costs on banks." She noted that investment-grade corporate bonds are yielding 5.5% to 6%.
Persons: Maria Giraldo, Guggenheim, Giraldo, Schwab Organizations: Guggenheim Investments, SEC
☆ Foxconn Q2 sales slip 14%, Q3 outlook brighter ahead of year-end peak
  + stars: | 2023-07-05 | by ( ) www.reuters.com   time to read: +2 min
TAIPEI, July 5 (Reuters) - Taiwan's Foxconn, a major iPhone assembler for Apple Inc (AAPL.O), said on Wednesday that second quarter revenue dropped 13.8% year-on-year but the outlook for the third quarter was brighter ahead of peak shopping season at the end of the year. "With the second half of the year peak season currently underway, operations will gradually ramp up," the company said. "The outlook for the third quarter, which will be better than the second quarter, is expected to increase at an on quarter pace higher than seen in the previous two years," it said. Foxconn reports its second quarter earnings on Aug. 14. Foxconn posted a 56% plunge in first-quarter net profit, lagging forecasts in its biggest quarterly fall in three years.
Persons: Foxconn, Ben Blanchard, Robert Birsel Organizations: Apple Inc, Hai Precision Industry Co Ltd, Taiwan, Apple, Sharp Corp, Thomson Locations: TAIPEI, Taiwan
☆ Foxconn's May sales drop 9.5% y/y on smartphone weakness
  + stars: | 2023-06-05 | by ( ) www.reuters.com   time to read: +2 min
The first half of the year is traditionally slower for Taiwan tech manufacturers as major electronics vendors including Apple launch new products near the year-end holiday season. Apple (AAPL.O) results for the quarter ended April 1 beat expectations, helped by better-than-expected iPhone sales and inroads in India and other newer markets. However, Foxconn posted a 56% plunge in first-quarter net profit, lagging forecasts in its biggest quarterly fall in three years. It took a $565 million write-off linked to its 34% stake in Japanese electronics maker Sharp Corp (6753.T) and said visibility for the full year was limited. Foxconn shares have risen 7.6% so far this year, lagging the broader Taiwan market (.TWII), which is up 18.2%.
Persons: Foxconn, Ben Blanchard, Jacqueline Wong Organizations: Apple Inc, Hai Precision Industry Co, Taiwan, Apple, Sharp Corp, Thomson Locations: TAIPEI, India, Taiwan
☆ Shares of Japan's Nintendo, SoftBank and Sharp tumble after earnings
  + stars: | 2023-02-08 | by ( ) www.reuters.com   time to read: +2 min
Shares of Nintendo dropped 6% after the maker of the Switch video game console reported lower sales and profit and cut its full-year outlook. Nintendo shares were on track for their biggest one-day loss since November. SoftBank shares fell 6.2% after it reported a quarterly loss, hit by its massive Vision Fund investment unit, which fell into the red for the fourth straight quarter. Nintendo is struggling with softer sales for the ageing Switch, while SoftBank has seen valuations weaken for its sprawling tech portfolio. "The Nintendo Switch is now a six-year-old console and demand is now exhausted," analyst Mark Chadwick said on Smartkarma.
☆ These 13 sell-rated global stocks have serious downside risk, Wall Street analysts say
  + stars: | 2022-10-28 | by ( Ganesh Rao | ) www.cnbc.com   time to read: +8 min
Equity analysts have slashed estimates and price targets over recent days as companies continue to report disappointing third-quarter results. Thirteen of these stocks — all part of the MSCI World Index — have median analyst price targets below their current share price, according to FactSet data. Global stocks Other stocks with price targets below current trading levels include Japanese multinational retailer AEON , U.S.-listed Clorox , and U.K. financial services company Abrdn plc. Equity analysts have slashed estimates and price targets over recent days as companies continue to report disappointing third-quarter results. Thirteen of these stocks — all part of the MSCI World Index — have median analyst price targets below their current share price, according to FactSet data.
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