Saturday, July 19, 2025
  • Login
Forbes 40under40
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle
No Result
View All Result
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle
No Result
View All Result
Forbes 40under40
No Result
View All Result
Home Technology

Foxconn billionaire’s eight-year stock target finally comes true

by Riah Marton
in Technology
Foxconn billionaire’s eight-year stock target finally comes true
Share on FacebookShare on Twitter


TERRY Gou, the billionaire founder of iPhone assembler Foxconn Technology Group, has finally reached a goal that had eluded him for about eight years.

Shares of the group’s flagship Hon Hai Precision Industry closed on Monday (Jun 17) at NT$200, a level Gou had pledged to achieve in 2016. The Taipei-listed stock has surged more than 90 per cent this year on investor enthusiasm for artificial intelligence (AI) servers and potential for the latest Apple products.

While Gou stepped down as Hon Hai chairman in 2019 as he unsuccessfully pursued Taiwan’s presidency, the price level represents a landmark for the company he started 50 years ago.

Annual general meetings (AGMs) in past years had featured shareholders asking Gou when his famous target would be attained. This year’s AGM demonstrated how the company has evolved with new fields including AI servers, which it expects to become its next NT$1 trillion (S$42 billion) business and electric vehicles.

The strong performance this year of Hon Hai and local tech peers including Quanta Computer also underscores the transformation of the island’s contract manufacturers from low-margin, commodity IT products to higher value-added offerings.

“The AI wave lifts all boats,” said Xiadong Bao, a fund manager at Edmond de Rothschild Asset Management. For Hon Hai, “the rally is mainly driven by the AI server ramp-up, further expansion into AI-related networking equipment and high expectations for a general server and PC recovery”.

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Hon Hai reported revenue grew 22 per cent in May to a record high for the month and said it is likely to beat expectations for the second quarter, a traditionally off-peak season, on stronger-than-expected demand for AI servers. The company is expected to report those results in August. BLOOMBERG

Tags: BillionaireseightyearFinallyFoxconnStockTargetTrue
Riah Marton

Riah Marton

I'm Riah Marton, a dynamic journalist for Forbes40under40. I specialize in profiling emerging leaders and innovators, bringing their stories to life with compelling storytelling and keen analysis. I am dedicated to spotlighting tomorrow's influential figures.

Next Post
Gold prices edge higher as US Treasury yields soften

Gold prices edge higher as US Treasury yields soften

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Forbes 40under40 stands as a distinguished platform revered for its commitment to honoring and applauding the remarkable achievements of exceptional individuals who have yet to reach the age of 40. This esteemed initiative serves as a beacon of inspiration, spotlighting trailblazers across various industries and domains, showcasing their innovation, leadership, and impact on a global scale.

 
 
 
 

NEWS

  • Forbes Magazine
  • Technology
  • Innovation
  • Money
  • Leadership
  • Real Estate
  • Lifestyle
Instagram Facebook Youtube

© 2024 Forbes 40under40. All Rights Reserved.

  • About Us
  • Advertise
  • Contact Us
No Result
View All Result
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle

© 2024 Forbes 40under40. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In