Foxconn says May revenue climbs 22% y/y, raises outlook

Foxconn, the world’s largest contract electronics manufacturer and Apple’s primary iPhone assembler, announced on Wednesday that its revenue for May had reached a record high for the month, with a year-on-year increase of 22.1%. In a statement, the company also mentioned that its initial projections for the second quarter had anticipated growth in both sequential and year-on-year terms. However, it noted that due to stronger-than-anticipated demand for AI servers, its visibility for the second quarter is now expected to surpass previous expectations. The statement did not provide further details, and it should be noted that Foxconn does not offer specific numerical guidance.