(VOR News) – Foxconn, the largest contract electronics maker in the world, achieved its highest-ever revenue for the third quarter, surpassing industry predictions in the process.

This was made feasible by the robust demand for servers that utilize artificial intelligence, which enabled Foxconn to attain levels of accomplishment that had never been seen before.

The income of Apple’s leading iPhone assembler increased by 20.2% compared to the previous year, reaching 1.85 trillion Taiwanese dollars. This is a significant increase overall. When converted to dollars in the United States, this amount is comparable to $57.3 billion.

“We exceeded our original growth expectations,” Foxconn said.

“The company’s original expectations were for significant growth.” The statement was issued by the company aforementioned.

In addition to that, there was an LSEG SmartEstimate that was 1.79 trillion Taiwan dollars ahead of it. Estimates that are generated by analysts who are more accurate on a consistent basis are given greater weight by this SmartEstimate. A further demonstration of the fact that it was ahead of the curve was provided by this phenomenon.

Foxconn, whose customers include the artificial intelligence chip manufacturer NVIDIA NVDA.O, has stated that the cloud and networking products department of the company has achieved strong revenue growth as a direct result of the robust demand for AI servers. This growth has been attributed to the fact that the demand for AI servers has improved significantly.

The market for smart consumer devices, which includes iPhones, experienced a rapid rise from one quarter to the next as a result of the debut of new products; however, its performance from one year to the next was not different from what it had been in the previous year.

This was the case despite the fast growth that occurred from one quarter to the next. In the past, Taiwan’s technology businesses have historically begun their rivalry to supply big vendors like Apple with smartphones, tablets, and other electronic gadgets in order to get ready for the holiday season in Western markets. This was done in order to prepare for the holiday season in Western societies.

The beginning of this competition normally takes place during the third quarter of the second half.

The total sales for the month of September reached T$733 billion, which is the second-highest figure ever recorded for the month and marks a year-on-year increase of 10.9%.

Foxconn sold T$733 billion in September.

When asked about its forecasts for the current quarter, Foxconn reacted by saying, “We anticipate our operation to gradually gain momentum as we enter the peak season in the second half of the year.” This statement was made in response to a question regarding the company’s forecasts.

This assertion was followed by the statement that stated, “The fourth quarter is anticipated to be roughly in line with current market expectations,” yet the statement did not provide any additional rationale for this assertion.

In addition, it is important to take into consideration the fact that the firm does not offer any mathematical projections.

The stock of Foxconn has increased by 86% so far this year, which is far higher than the overall rise of 24% that the Taiwan market has experienced.

Additionally, the stock of Foxconn has increased by a significant amount. In contrast to the benchmark index, which had experienced a decrease of 0.4%, they finished the day with a gain of 3.7%, which was a significant difference. This was prior to the disclosure of the revenue numbers, which was anticipated to take place within the brief span of time that followed.

On November 14th, it is anticipated that the corporation will make the comprehensive report of results for the third quarter available to the general public. The firm has taken the decision to hold its annual Tech Day on October 8 and 9, which is an event that is commonly used for the release of new products or partnerships. Tech Day is an event that is frequently used.

SOURCE: CNBC

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Mark Zuckerberg’s wallet is becoming fatter.

The Meta CEO is now the world’s second richest person, surpassing Jeff Bezos and Bernard Arnault. With a personal fortune of $206 billion, according to Bloomberg’s Billionaire Index, he now trails only Elon Musk.

According to Bloomberg’s Billionaire Index, Mark‘s fortune will have increased by a staggering $78.1 billion by 2024. He enters an exclusive $200 billion club with only two other members.

Mark Zuckerberg Joins Exclusive $200 Billion Club, Is Second-Richest Person In World

This includes Musk ($256 billion), CEO of Tesla and X, and Bezos ($205 billion), Amazon’s founder. Arnault, the CEO of luxury firm LVMH, just left the club with a wealth of $193 billion.

Zuckerberg, 40, who founded Facebook in 2004, derives much of his money from Meta Platforms stock. Meta (META) stock is up more than 72% in 2024. Meta shares rose 2.26% on Friday, closing at a record high of $595.94.

Meta runs popular social networking networks like Facebook, Instagram, and Threads, as well as the instant messaging service WhatsApp.

On September 25, at the Meta Connect 2024 event, Zuckerberg stated that Meta AI is on course to become the world’s most popular assistant.

“We’re almost at 500 million monthly (active users), and we haven’t even launched in some of the bigger countries yet,” Zuckerberg remarked, referring to EU countries.

Zuckerberg isn’t the only tech magnate who has seen his fortunes skyrocket this year. Jensen Huang, CEO of Nvidia, and Larry Ellison, co-founder of Oracle, are expected to have net worths of $63.5 billion and $55.9 billion, respectively, in 2024.

This includes Musk ($256 billion), CEO of Tesla and X, and Bezos ($205 billion), Amazon’s founder. Arnault, the CEO of luxury firm LVMH, just left the club with a wealth of $193 billion.

Zuckerberg, 40, who founded Facebook in 2004, derives much of his money from Meta Platforms stock. Meta (META) stock is up more than 72% in 2024. Meta shares rose 2.26% on Friday, closing at a record high of $595.94.

Meta runs popular social networking networks like Facebook, Instagram, and Threads, as well as the instant messaging service WhatsApp.

Mark Zuckerberg Joins Exclusive $200 Billion Club, Is Second-Richest Person In World

On September 25, at the Meta Connect 2024 event, Zuckerberg stated that Meta AI is on course to become the world’s most popular assistant.

“We’re almost at 500 million monthly (active users), and we haven’t even launched in some of the bigger countries yet,” Zuckerberg remarked, referring to EU countries.

Zuckerberg isn’t the only tech magnate who has seen his fortunes skyrocket this year. Jensen Huang, CEO of Nvidia, and Larry Ellison, co-founder of Oracle, are expected to have net worths of $63.5 billion and $55.9 billion, respectively, in 2024.

SOURCE | CNN

(VOR News) – Seven Boeing individuals and two sub-contractors were charged with committing crimes like fraud and breaking aviation safety laws on Saturday, following an investigation into allegedly defective components that were made by an Italian company for Boeing.

The inquiry, which took place on Saturday, was conducted by Italian prosecutors. It was in reaction to suspicions that the components were made by an Italian company that the investigation was carried out.

The Boeing inquiry was conducted as part of a larger investigation.

Following the conclusion of the investigation, allegations were made in response to the discoveries that were discovered.

In the latter half of the year 2021, the prosecutors initiated their investigation when Boeing discovered that certain components for its 787 Dreamliner aircraft had been manufactured in a manner that was illegal. This marked the commencement of a preliminary investigation.

These components had been supplied by a company that worked for the Italian aerospace corporation Leonardo when they were required. Leonardo is an Italian aerospace corporation.

According to the findings of the study, two Boeing Italian subcontractors employed kinds of titanium and aluminum that were less expensive than the standards that were necessary in order to manufacture particular components. This was mentioned in a statement that was issued by the authorities who were in charge of the inquiry at the time.

The fact that they were able to cut down on the amount of money they spent on the costs of their raw materials led to significant cost reductions, which in turn led to significant savings.

On the other hand, the statement did not identify any of the seven people who were involved in the incident, nor did it identify any of the subcontractors who were involved.

“This resulted in the realization of airplane parts with significantly lower static and stress resistance than Boeing characteristics, which had repercussions on aviation safety,” the prosecutors in the city of Brindisi, which is located in the southern region of Italy, observed.

Brindisi is located in the Veneto region of Italy.

The locale of Brindisi can be found in the southern region of Italy. The city of Brindisi may be found in the region of Italy that is often referred to as the southern section of the country.

According to the statement in question, aerospace specialists who worked in conjunction with prosecutors came to the conclusion that there were as many as 4,829 components made of titanium that did not comply with the standards, and there were 1,158 components made of aluminum that did not comply.

They also said Boeing and Leonardo were victims.

Certainly, this was a noteworthy discovery. According to what they said, they had been victims of the actions that were taking place.

“The expert work and investigations came to the conclusion that some structural components that did not comply with the regulations could, in the long run, cause harm to the safety of the aircraft,” according to the conclusions that were reached by specialists.

“This would require the United States company to initiate an extraordinary maintenance campaign for the aircraft involved.”

Seven persons and two sub-contractors will be given the option to present any new evidence that they may have in their defense before the time comes for the prosecutors to decide whether or not to seek a court to conduct a trial. This opportunity will be provided before the time comes for the officials to make their decision.

This opportunity will be made available to them for the purpose of allowing them to defend themselves. Before the time comes for the prosecutors to make their judgment, they will be given the opportunity to choose from this alternative.

Leonardo, on the other hand, said that he had no intention of making any remarks about their conversation. A commitment has been made by Boeing to provide a response to the matter at the appropriate time at the appropriate time.

SOURCE: USN

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