Also known as Foxconn.
From Bloomberg, January 5:
- Company sees significant sales growth for the first quarter
- December revenue advances 42% on strong AI server sales
Hon Hai Precision Industry Co. reported faster-than-expected 15% revenue growth after the server assembly partner to Nvidia Corp. rode sustained demand for AI infrastructure.
Hon Hai, also the world’s largest maker of Apple Inc. iPhones, reported NT$2.13 trillion ($64.6 billion) of revenue for the past three months. December revenue rose 42%, helping the company known as Foxconn beat analyst expectations. It also forecast “significant” sales growth for the first quarter, helping its shares rise as much as 3.6% in Taipei, their biggest intraday gain in about two weeks.
The company and other Taiwan AI hardware suppliers have enjoyed a boost from massive spending on servers for data centers by the biggest US tech firms like Alphabet Inc. and Microsoft Corp. But the lack of a compelling use case for AI so far has been making investors nervous about when the expansion might slow.
Read more: Nvidia Partners Hon Hai, Quanta See Strong AI Demand Into 2025
Goldman Sachs analysts revised up their 2024 earnings estimate by 1% based on higher-than-expected December revenue. They also raised revenue estimates for this year and the following two years, citing higher AI server revenue....
....MUCH MORE
Man, it seem like it was just yesterday that every AAPL analyst was tracking Foxconn and Foxconn's suppliers as they tried to get a penny closer to what Apple was going to report.
And the NGOs publishing stories about the suicides at Foxconn, when in fact the per capita suicide rates were lower than those in the NGOs home countries. It was all just a smear, probably orchestrated by some big money pulling the strings on their dancing monkeys/useful idiot pressure groups and bloggers.
You can see the same thing happening now with Tesla, interesting phenomena.
From November 2012's from "What May Happen When the Foxconn Robots Become Self-Aware":
In 2010 when 18 Foxconn employees attempted suicide and 14 succeeded there was a worldwide outcry.
This outcry stemmed from a number of factors including an ignorance of statistics and a profound ignorance of suicide in human populations.
At the time Foxconn had 930,000 employees (now 1.2mil.) resulting in a suicide rate of 0.001505376% or 1.505 per 100,000.* According to the all-knowing one, Wikipedia, the rate for China as a whole was 22.23 per 100,000.
The Foxconn rate was lower than that of 99 countries including every country in Europe, the U.S. (12.0) and the rest of the G20.
As a general rule, if you aren't feeling too chipper stay out of Eastern Europe and the Western U.S.
*Half of the workforce is in the gigantic Shenzhen complex of facilities. 14/450,000 only gets you to 3.1 per 100,000 or about the rate of Malta and less than a third of the worldwide rate of 10.07 per 100K.
Interesting phenomena.
If one is so inclined, dig up the "$TSLAQ" cashtag tweeters on Twitter starting in 2014/2015.
The "Q" is the letter that used to be appended to a symbol for an issue in bankruptcy.
You clever, clever boys.
In January 2015 Tesla was trading at a split-adjusted $13-or so (already up ten-fold from the IPO), Today in very early pre-market action the stock is up $6.69 (+1.63%) at $417.13.
The $TSLAQ gang cost their followers hundreds of billions of dollars in potential profits if the followers stayed away and tens of billions in real losses if the followers shorted the stock.
And probably a few suicides too.
No one knows for sure how Tesla will work out, not even Mr. Musk. Here's the introduction to April 2024's "Tesla Q1 2024 Earnings Call Transcript (TSLA)":
In pre-market action the stock is up $17.47 (+12.07%) at $162.15.
Below are the words that are adding billions ($50+) to the company's valuation.
Personally I think Musk is going to pull it off, but that's just me—perhaps informed by posting on the company and its stock since before the June 2010 share flotation (which, adjusted for the 5:1 and 3:1 stock splits gives a $1.133 IPO price)—however, there are plenty of other opinions to choose from if one doesn't care for that one.
With that, here are the thoughts of the cultural observer Sting in his seminal work "De Do Do Do, De Da Da Da" as the conclusion of this intro:
