Foxconn Shares Surge Over Upcoming ‘iPhone 8’ Anticipation

At this point it’s no secret that the next iPhone is going to be a total shakeup of Apple’s iconic smartphone lineup. Over the past months there have been countless rumours and reports surrounding the phone, including its fingerprint sensor, the possibility of wireless charging, and so on.

Since the iPhone 7 was relatively bland according to critics and consumers alike (it sported the same iPhone 6 design), many Apple fans are anxiously awaiting something new from the Cupertino company.

While Apple is no doubt eager to deliver a new and exciting product with the next iPhone, another company across the globe is riding high on this wave of anticipation and expectation: Foxconn.

Foxconn, also known as Hon Hai Precision Industry Company, is the main assembler of Apple’s iconic iPhone. The iPhone you are holding was made by Foxconn employees most likely. The company has been the primary builder of iPhones since the device first launched, and has grown exponentially as a result.

According to a Bloomberg report, the company’s latest financial reports show that the company has seen an incredible 29% year-over-year increase in share price, and most of this increase seems to be a result of the next iPhone’s hype and anticipation.

While the company is most known for building iPhones, its clients include the likes of Sony, HP, Huawei, and Xiaomi, and it is growing constantly. The company plans to open a US-based display factory at some point in the near future alongside another based in Shenzhen, China. The company also recently acquired Sharp Corporation, tripling the value of the Japanese electronics maker overnight.

While the company is surely succeeding in every aspect, Apple devices account for roughly half of the company’s revenue, and following Apple’s record-high quarterly earning report earlier this year, Foxconn’s share price has exploded.

Apple is expected to release the next iPhone at some point this fall, and although no details have yet been made official, some reports detail that the device’s manufacturing process might begin earlier than expected.