Apple iPhone supplier Foxconn expects first-quarter revenue decline
Publishing timestamp: 2024-01-05 10:35:59
Summary
Foxconn Technologies, a major Apple supplier and iPhone manufacturer, reported a decline in revenue for the final quarter of 2023 and expects a year-over-year decline in sales for the first quarter of 2024. This follows downgrades to Apple stock by Barclays and Piper Sandler, who cited softening iPhone sales. Shares of Apple have dropped about 5% since the start of the year.
Sentiment: NEGATIVE
Keywords: earnings, technology, business news, apple inc, breaking news: technology, foxconn technology co ltd, iphone,