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Technology Stocks : Apple Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Moonray who wrote (169444)	5/14/2014 8:43:06 AM
From: Moonray	Respond to of 213172

Whoops, forgot to post the link on that Hon Hai rumor story: Hon Hai Q1 profit likely boosted by iPhone's China surge Here is the same story, but the WSJ isn't reporting it as a rumor: Taiwanese Manufacturer Hon Hai Precision Profit Rises Apple Inc.’s major assembler, Hon Hai Precision Industry Co., reported a 21% increase in first-quarter profit, helped by strong iPhone sales and improved production efficiency. The world’s largest contract manufacturer for electronics, commonly known as Foxconn Technology Group, earns almost half of its revenue from Apple. The Taiwan-based company has been seeking new avenues of growth, as income from contract manufacturing slows. The company has been making a push into software development and telecommunications services, as well as entering the retail market by selling its own mobile accessories under the Coverbank brand. Hon Hai’s net profit for the three months ended March 31 rose to 19.83 billion new Taiwan dollars ($658 million) from NT$16.35 billion a year earlier. Its revenue rose 9% to NT$883.48 billion from NT$809.01 billion. Hon Hai’s fortunes largely hinge on demand from Apple, which sold 43.7 million iPhone units in the three months ended March 29, up 17% from a year earlier. But the Cupertino, Calif., company sold fewer iPads in the quarter. Its iPad shipment fell 16% to 16.4 million units. Apple’s net income for the fiscal second quarter rose 7% to $10.22 billion. Apple has been facing stiff competition from Samsung Electronics Co. and other smartphone makers that use Google’s Android software. Faced with the possibility of a slowdown in orders from its biggest customer, Hon Hai has been trying to trim costs to operate more efficiently and improve its profit margin. Analysts said they expect Hon Hai’s earnings to grow at a faster rate in the second half of this year, driven by strong demand for next-generation iPhones that will likely come with bigger screens. Apple plans larger displays on a pair of iPhones due for release later this year, people familiar with the matter told The Wall Street Journal in January. o~~~ O