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Strong sales of Apple's iPhone boost Foxconn profits by 41%

post #1 of 24
Thread Starter 
Net profits at Apple manufacturing partner Foxconn were up by 41 percent in the company's second quarter, boosted by stronger than expected sales of the existing iPhone lineup.

Flash
Artist's conception of a possible iPhone 5S. Source: AppleInsider


Net profit for the quarter was 16.98 billion New Taiwan dollars, or $566.7 million U.S. That was up from $12.06 billion New Taiwan dollars in the June quarter of 2012.

Apple is responsible for more than 40 percent of revenue at Hon Hai Precision Industry Co., according to The Wall Street Journal. Hon Hai is better known by its trade name, Foxconn.

Foxconn's strong numbers for the June quarter were benefitted greatly by Apple's own quarter, in which the company shipped a quarterly record 31.2 million iPhones. That number was much higher than many analysts expected, given the fact that sales typically slow down as the expected launch of a new iPhone approaches.

Market watchers believe iPhone demand will grow even greater this fall with the launch of new products setting the stage for a blockbuster holiday season.

Foxconn has reportedly been gearing up and hiring additional personnel in anticipation of a number of new Apple products this fall, most significant of which will be the next flagship iPhone, rumored to be named the "iPhone 5S." Apple is also said to be planning to debut a new multi-colored low-cost iPhone, referred to as an "iPhone 5C," though that device is being assembled at Pegatron, a competing supplier.

Both the "iPhone 5S" and "iPhone 5C" are expected to be introduced by Apple at a media event apparently scheduled for Sept. 10. If past product launch schedules hold once again for 2013, that would make the new iPhones available on Friday, Sept. 20.
post #2 of 24
Now Apples expected to do great. Analysts are lunatics.
post #3 of 24
Quote:
Originally Posted by shigh View Post

Now Apples expected to do great. Analysts are lunatics.

That pretty much sums it up. I wonder what they will say when Apple blows every other tech company out of the water this fall with the cheap iPhone and new iPads.
post #4 of 24

Yeah, wasn't it just last month we had news of Foxconn operations slowing down, attributed mostly to a decline for the demand of the iPhone?

Now all of a sudden we have this.

post #5 of 24
Quote:
Originally Posted by TheDBA View Post

Yeah, wasn't it just last month we had news of Foxconn operations slowing down, attributed mostly to a decline for the demand of the iPhone?
Now all of a sudden we have this.

That's the problem with all these reports. No one ever holds these people accountable - and, in fact, it seems as if no one ever remembers the story they were telling just weeks ago.
"I'm way over my head when it comes to technical issues like this"
Gatorguy 5/31/13
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"I'm way over my head when it comes to technical issues like this"
Gatorguy 5/31/13
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post #6 of 24
Quote:
Originally Posted by jragosta View Post


That's the problem with all these reports. No one ever holds these people accountable - and, in fact, it seems as if no one ever remembers the story they were telling just weeks ago.


In the past, we had newspaper print that is archived somewhere.  Now, with online articles and a must-have-now mentality, anything written will pretty much be forgotten by most people literally minutes after they read it.  Articles that are pure BS - like analyst predictions - can be easily changed or deleted and most will not notice.

So sad.  These a$$hats should be held accountable.  As far as I'm concerned they are manipulating AAPL.

post #7 of 24

People should know better. These analyst say things so they can manipulate the markets for their own good. 

post #8 of 24

Today's action comes from several Carl Icahn tweets (here's the latest):  "Had a nice conversation with Tim Cook today. Discussed my opinion that a larger buyback should be done now. We plan to speak again shortly."

Proud AAPL stock owner.

 

GOA

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Proud AAPL stock owner.

 

GOA

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post #9 of 24
Does this mean Apple's doomed?
post #10 of 24
OK! What the hell just happened here? Did anyone else notice? Since morning, AAPL stock has been up by $6-7 from the previous day. Then this story gets announced and suddenly, Boom! AAPL Stock is up by $20. Is it this story or something else?
post #11 of 24

How can this be? Wasn't Foxconn running away from Apple at full gallop because of depressed Apple demand?

post #12 of 24
Quote:
Originally Posted by Slurpy View Post

Does this mean Apple's doomed?

What would Mike Daisey say?

 
Where's the new Apple TV?
 
And still waiting for SolipsismX to prove his accusation:
"And yet they haven't loved Google Wallet which you claimed was the exact same thing and kept posting...
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Where's the new Apple TV?
 
And still waiting for SolipsismX to prove his accusation:
"And yet they haven't loved Google Wallet which you claimed was the exact same thing and kept posting...
Reply
post #13 of 24
Quote:
Originally Posted by TheDBA View Post

OK! What the hell just happened here? Did anyone else notice? Since morning, AAPL stock has been up by $6-7 from the previous day. Then this story gets announced and suddenly, Boom! AAPL Stock is up by $20. Is it this story or something else?


Carl Ichan buys huge stake in AAPL. He talked to Tim Cook today and more news to come today.

 

https://twitter.com/Carl_C_Icahn

post #14 of 24
Quote:
Originally Posted by helicopterben View Post


Carl Ichan buys huge stake in AAPL. He talked to Tim Cook today and more news to come today.

 

https://twitter.com/Carl_C_Icahn

 

A nice counterpunch to the recent pile-on attacks of Apple from Wall Street and analysts.

Proud AAPL stock owner.

 

GOA

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Proud AAPL stock owner.

 

GOA

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post #15 of 24
What is weird, Apple is the embodiment of what should be free/fair trade. How? Apple has an infinite number of competitors ( i have been writing about this here, for years ), unlike Microsoft and Google. Microsoft and Google are in bed with those infinitre Apple`s competitors. Even so, Apple`s biz strategy is look at as doomed to fail, an aberation of sort. It should be look at as something to be prized. Because it empowers creativity. Microsoft and Google strategy is a corfort corner compared to Apple`s.
Edited by Ochyming - 8/13/13 at 12:48pm
post #16 of 24
Quote:
Originally Posted by TheDBA View Post

OK! What the hell just happened here? Did anyone else notice? Since morning, AAPL stock has been up by $6-7 from the previous day. Then this story gets announced and suddenly, Boom! AAPL Stock is up by $20. Is it this story or something else?

Probably more Icahn as he's forward looking while FoxCon's numbers are the past. Granted the numbers are real and Icahn simply has an (albeit informed) opinion.

post #17 of 24
Quote:
Originally Posted by jfc1138 View Post

Probably more Icahn as he's forward looking while FoxCon's numbers are the past. Granted the numbers are real and Icahn simply has an (albeit informed) opinion.

I agree that it's mostly iCahn, but Foxconn's 'past' numbers are relevant, too, for at least 2 reasons:

1. They're talking about the 2nd quarter. 2nd quarter production at Foxconn translates to 3rd quarter sales for Apple (at least there's a lot of overlap).

2. There was a lot of press about how poorly Apple's suppliers were doing earlier this year. This report indicates that those reports were in error - which may make people less willing to believe bad news in the future.
"I'm way over my head when it comes to technical issues like this"
Gatorguy 5/31/13
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"I'm way over my head when it comes to technical issues like this"
Gatorguy 5/31/13
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post #18 of 24
Wait I thought Foxconn laid off 1MM workers and that Apple was to blame?
post #19 of 24
I will espouse my own theory re Apple/China Mobile and that is they have already struck a deal with China Mobile to carry the iPhone. They are just waiting a the network to start building out (on whatever version of 4G China Mobile is going to roll out) and an iPhone to pair it up with. Otherwise I believe they already have a deal in place. My sources? None, pretty much like every other analyst out there.
post #20 of 24
Quote:
Originally Posted by deanthology View Post

I will espouse my own theory re Apple/China Mobile and that is they have already struck a deal with China Mobile to carry the iPhone. They are just waiting a the network to start building out (on whatever version of 4G China Mobile is going to roll out) and an iPhone to pair it up with. Otherwise I believe they already have a deal in place. My sources? None, pretty much like every other analyst out there.

 

Carl Icahn's loose lips did it.

Proud AAPL stock owner.

 

GOA

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Proud AAPL stock owner.

 

GOA

Reply
post #21 of 24
Quote:
Originally Posted by deanthology View Post

I will espouse my own theory re Apple/China Mobile and that is they have already struck a deal with China Mobile to carry the iPhone. They are just waiting a the network to start building out (on whatever version of 4G China Mobile is going to roll out) and an iPhone to pair it up with. Otherwise I believe they already have a deal in place. My sources? None, pretty much like every other analyst out there.

Yes, the new system compatible Qualcom chip was the final piece of the puzzle (IMHO).

post #22 of 24
So does this mean that the workers will stop protesting and hurting themselves because they don't have enough work and, instead, go back to protesting and hurting themselves because they are overworked?
post #23 of 24
Quote:
Originally Posted by Carson O'Genic View Post

So does this mean that the workers will stop protesting and hurting themselves because they don't have enough work and, instead, go back to protesting and hurting themselves because they are overworked?

 

 

Basic economy: Anyone’s earning is another person spend. A society whose populace earn low salary cannot sustain itself much longer.

post #24 of 24
Quote:
Originally Posted by Ochyming View Post


Basic economy: Anyone’s earning is another person spend. A society whose populace earn low salary cannot sustain itself much longer.

Not true at all. There are many factors that enter into the equation. China is going through what Japan did 40 years ago. They took on a lot of low-paying jobs in order to get all their people employed and then worked on improving their skill sets and upgrading the available jobs. It's hard to find a low-paying sweatshop job in Japan today and their economy is quite solid overall.

China is doing the same thing. First goal was to get everyone employed. Next goal is to educate as many people as they can and take on more of the value-added supply chain. Eventually (actually, this is already starting), they will be value creators rather than just assemblers.
"I'm way over my head when it comes to technical issues like this"
Gatorguy 5/31/13
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"I'm way over my head when it comes to technical issues like this"
Gatorguy 5/31/13
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