Foxconn Beats Q2 Revenue Estimates, Cautious on Global Volatility

Foxconn, one of Apple's key manufacturers, has reported strong second-quarter revenue that exceeded expectations. The Taiwanese company's revenue in the April-June period surged 39.8% to NT$2.513 trillion won ($78.71 billion), beating analysts' estimates from LSEG/Reuters. June revenue alone rose 52% to T$821.8 billion.

The strong demand for AI products led to robust growth in Foxconn's cloud and networking products division, while smart consumer electronics, which includes iPhones, posted significant growth. However, the company sounded a cautionary note, stating that it is monitoring the impact of the volatile global political and economic situation without elaborating.

AAPL shares dipped 0.8% in overnight trading ahead of Monday's market open, while NVDA stock rose 0.3%. The retail sentiment on Stocktwits was bearish for both AAPL and NVDA.