NVDA, AAPL Stocks In Focus: Foxconn Beats Q2 Revenue Estimates But Sounds Caution On Geopolitics
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Foxconn’s revenue in the April-June period surged 39.8% to NT$2.513 trillion won ($78.71 billion).AAPL shares dipped in overnight trading, while NVDA stock rose.Retail sentiment was ‘bearish’ for NVDA and AAPL.Taiwan’s Foxconn, formally known as Hon Hai Precision Industry, on Sunday reported strong June sales, lifting its second-quarter revenue above expectations, while also offering a subtle warning of the geopolitical and other risks looming on the horizon.Foxconn is a key manufacturer for Apple and Nvidia, among other U.S. companies. AAPL stock dipped 0.8%, while NVDA stock rose 0.3% in overnight trading ahead of Monday.“Looking ahead to the third quarter, AI rack shipments are expected to maintain growth, and operations will gradually gain momentum as ICT (Information and Communication Technology) products enter peak season,” Foxconn said in its June report. “The outlook for overall operations expects both QoQ and YoY growth, though it remains necessary to monitor the impact of the volatile global political and economic situation,” the company said, without elaborating.Market VolatilityThe war in the Middle East, which has triggered volatility in oil prices, has been a sizable influence on businesses and markets around the world in the last few months. In the U.S., investors are closely watching how tech firms are spending record capital for AI development and new data centers, and how that is fueling growth in semiconductors as well as a number of adjoining industries. Meanwhile, Apple recently raised prices across the majority of its products globally, citing rising prices of memory chips that go into them – creating alarm among fans as well as tech analysts and investors.Foxconn’s Q2 Results Foxconn’s revenue in the April-June period surged 39.8% to NT$2.513 trillion won ($78.71 billion), beating the NT$2.372 trillion analysts’ estimate from LSEG/Reuters. June revenue alone rose 52% to T$821.8 billion.Foxconn said strong AI demand led to robust revenue growth for its cloud and networking products division, while smart consumer electronics, which includes iPhones, posted "significant" growth.Foxconn, the world’s largest electronics maker, produces consumer electronics, cloud and networking products, including AI servers, computing products such as personal computers, electric vehicles, and other components.The company’s shares in Taipei have gained 4.3% this year, underperforming the 61.5% rise for the Taiwan market.Retail View On AAPL, NVDAOn Stocktwits, the retail sentiment was bearish for both AAPL and NVDA. AAPL shares rose nearly 5% on Thursday, the last day of the shortened week which had the Independence Day holiday, taking its year to date gains to 13.7%.NVDA has gained a mere 4.6% year to date, and remains well below the gains in the benchmark S&P 500 index. For updates and corrections, email newsroom[at]stocktwits[dot]com.Read Next: SNDK, WDC, MU: US Memory Stocks Rebound Overnight After Anthropic-Driven Selloff; Traders Eye Samsung Results Next Week
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