Foxconn has expanded its footprint into high-growth tech sectors like AI and EVs in recent years as its core electronics manufacturing business faces challenges due to industry shifts.

Taiwan's Foxconn, the world's largest contract electronics maker, is expected to report on Friday that fourth-quarter profit rose 2.35% on strong demand for artificial intelligence servers. Net profit for October-December for Apple's top iPhone assembler and Nvidia's AI server maker likely came in at T$54.

Foxconn Technology's (OTCPK:FXCOF) fourth quarter net profit fell 12.8% year-over-year, though the Nvidia (NVDA) supplier forecast AI server revenue to more than double in the first quarter of 2025. The Apple (AAPL) supplier — which is formally known as Hon Hai Precision (OTCPK:HNHAF) (OTCPK:HNHPF) — said fourth quarter (October to December 2024)