AAPL: Apple Supplier Foxconn Sees AI Surge Driving 2026 Growth

About this update from Foxconn Technology Co., Ltd.

Foxconn Technology (FXCOF) expects AI-related demand to drive growth in 2026, while teasing an upcoming announcement linked to OpenAI.The Apple NASDAQ:AAPL assembler posted third-quarter revenue of NT$2.059 trillion, up 11% year-on-year. Net profit attributable to the parent company rose 17% to NT$57.67 billion ($1.89 billion), exceeding analyst estimates of NT$50.4 billion, Reuters reported.Chairman Young Liu said AI adoption will become a major focus next year, though geopolitical and currency risks remain. He noted that Nvidia (NVDA) remains a key customer.Foxconn's cloud and networking segment, including AI servers, now accounts for 42% of revenue, slightly up from 41% last quarter. AI server rack shipments jumped 300% quarter-on-quarter, pushing cumulative AI server revenue to trillion-dollar scale ahead of schedule.The company expects next-generation AI server shipments to maintain double-digit sequential growth in Q4. Meanwhile, smart consumer electronics grew modestly, reflecting the seasonal ICT peak.Foxconn will reveal details on its OpenAI initiative at Hon Hai Tech Day on Nov. 2122 in Taipei.

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