Foxconn, the largest contract electronics manufacturer and a major supplier for Apple, reported better-than-expected second-quarter earnings due to a thriving artificial intelligence sector. The company's performance was driven by its strong presence in the AI server supply chain, particularly in GPU modules and substrates. Despite this positive outcome, Foxconn remains cautious about its outlook for the rest of the year, citing global economic uncertainties, geopolitical tensions, and inflation. The company downgraded its full-year revenue forecast to a slight decline, previously projected as flat. Chairman Liu Young-way expressed interest in India as a significant growth opportunity and emphasized the potential of several billion dollars in investment. Additionally, the company continues to focus on electric vehicle (EV) production, with plans to mass-produce EV batteries. It has hired a former Nissan executive to lead its EV business expansion.
