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Foxconn Shares Fall After Apple Provider’s Q1 Revenue Plunges

TAIPEI (Reuters) – Shares of Foxconn fell greater than 2% on Friday after the Apple Inc provider’s quarterly revenue missed forecasts and it cited a giant writedown from its stake in Japan’s Sharp Corp for the loss.

The inventory of Foxconn, the world’s largest contract electronics maker, slid 2.4% in early commerce, whereas Sharp’s shares plunged 7%.

(Reporting by Yimou Lee in Taipei; Writing by Anne Marie Roantree; Enhancing by Jacqueline Wong)

Copyright 2023 Thomson Reuters.

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