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9to5mac
Foxconn used to make half its revenue from Apple; now it's below 29%
Foxconn, traditionally dependent on Apple for revenue, has reported that less than 29% of its income now comes from Apple, signaling a major business transformation. This change is permanent as the company shifts focus to growing demand for AI servers, which now comprise 51% of its revenue. CEO Michael Chiang emphasized this as a structural shift, positioning AI investments as the central growth driver despite investor apprehensions regarding an AI bubble. While Foxconn's stock has increased by 17% this year, it still lags behind the broader Taiwanese market's 57% growth.
MonitorConfidence: MediumMid term horizon
Published 12 Aug 2026, 14:30 UTC2 min read
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Summary
TL;DR
- Foxconn's revenue from Apple has fallen to below 29%.
- AI server production has surpassed the iPhone segment in revenue contribution.
- The shift in revenue sources is viewed as permanent by company leadership.
- Foxconn's cloud and networking division achieved over 51% of revenue.
- Investor concerns arise from the growth and sustainability of the AI market.
Interesting facts
- Foxconn's Zhengzhou plant is colloquially known as iPhone City.
- At one point, the plant accounted for 80% of global iPhone production.
- Foxconn's shares have increased by 17% in 2023, underperforming relative to other Taiwanese companies.