Foxconn Surges on Strong Earnings and Upbeat 2023 Outlook Driven by AI Server Demand
- Foxconn shares rose 9.5% to highest level in 3 years after strong Q4 earnings
- Foxconn reported 33% jump in Q4 net profit, beating expectations
- Forecasts bullish outlook for 2023 due to booming demand for AI servers
- Analysts predict Foxconn's profits could rise 13-25% this year
- Foxconn is a major supplier to Apple and benefits from demand for Nvidia's AI server products