Tag: supplier

Apple supplier Foxconn’s February earnings plummet as consumers…

apple inc AAPL Offerer Hon Hai Precision Manufacturing Company Limited HNHPF on Sunday reported monthly earnings for February that were down from the same period last year and the previous month. What happened: Hon Hai, based in Taipei, Taiwan, which is widely known as Foxconn, said its revenue fell 11.65% to NT$402.04 billion (US$13.18 million) […]

Tesla, Nio supplier CATL pushes for increased safety standards in…

Tesla Inc.‘S TSLA battery supplier Contemporary Amperex Technology Co. Limitedor CATLcalled on the Chinese government to increase safety and quality standards in the battery storage industry. What happened: Zeng YuqunCATL chairman, called for a series of reforms and “nuclear power levels” of oversight, reported Bloomberg. See also: The best semiconductor stocks right now “In recent […]

Apple’s key supplier reportedly loses over 20,000 workers in China

More than 20,000 employees, most of them new hires, have reportedly left a key apple inc AAPL main supplier iPhone-Production facility in Zhengzhou, China after violent protests erupted at the plant Earlier this week due to unpaid fees. What happened: The series of departures from the Foxconn HNHPF The factory would hamper the company’s previous […]

Key Apple supplier acquires Lordstown Motors stock for $170 million

Lordstown Motors Corp HORSE RIDING said that on Monday Hon Hai Precision Industry Co.,Ltd HNHPF affiliate Foxconn Ventures Pte. GmbH has agreed to make an additional equity investment of $170 million in the Electric Vehicle Company. What happened: The investment will be in the form of $70 million in Lordstown common stock and up to […]

Why shares of Apple supplier TSMC are up over 5% today in Taiwan -…

apple inc AAPL-Offerer Taiwan Semiconductor Mfg. Co.Ltd. TSM Shares rose over 5% in the Taiwan trading session after the company posted an 80% increase in its third-quarter net income to NT$280.87 billion (US$8.81 billion). This is the company strongest growth in two years. Also read: Best online stock broker for beginners Other chip-related stocks such […]

Apple supplier TSMC is “attractive,” says analyst. What results can…

Taiwan Semiconductor Manufacturing Company Ltd (NYSE: TSM) reported third quarter revenue growth of 35.9% year-over-year to $20.23 billion, beating consensus of $19.91 billion. EPS of $1.79 per ADR beat consensus of $1.70. Needham Analyst Charles Shi maintained a buy on TSMC and a Price target $110. TSMC’s 3Q22 results and 4Q22 guidance were broadly in […]

Apple’s key supplier posts 48% revenue growth in Q3 – Taiwan…

Taiwan Semiconductor Manufacturing Company Ltd TSM reported 36.4% year-over-year revenue growth in September to NT$208.25 billion. Revenue for January-September 2022 totaled NT$1.64 trillion, up 42.6% year-on-year. Revenue for the third quarter rose 48% year-on-year to NT$613 billion (US$19.4 billion), beating the consensus of NT$603 billion. Bloomberg reports. The report found that increasing […]

Apple supplier TSMC says production is not “materially” influenced by Taiwan…

apple inc‘s AAPL longtime chip partner, Taiwan Semiconductor Manufacturing Co. TSMsaid the recent earthquakes in Taiwan did not significantly affect its business. Monday’s 5.6-magnitude earthquake was the third tremor to hit Taiwan in the past three days, killing one and injuring 146 people, according to Taiwan’s Fire Department. The quake happened 2 km (1.24 miles) […]