TECH - Apple's Key Supplier Foxconn Signals Revenue Dip in Market Cool-Down | Benzinga
Key Apple Inc (NASDAQ: AAPL) supplier, Taiwan's Hon Hai Precision Industry Co Ltd (OTC: HNHPF), operating as Foxconn, forecasts a decline in first-quarter revenue following a quieter market demand in the previous quarter.
Traditionally, the first quarter tends to be slower for tech companies like Foxconn, following the busy holiday season when they supply electronics to major vendors such as Apple for Western markets.
This year's first quarter will likely see a year-on-year revenue drop despite the expected seasonal slowdown similar to the past three years, Reuters reports.
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