Market Insight | FIT HON TENG Precision surges over 5% again, up 1.5 times year-to-date, company expected to benefit from high demand for Apple's phone upgrades and AI servers

FIT HON TENG's stock price has risen by over 5%, with a year-to-date increase of more than 1.5 times. Apple announced its AI strategy, expecting product updates in the third quarter of this year, leading to replacement demand. Supply chain companies like FIT HON TENG will benefit from this. In addition, the major electronic manufacturing giant, Foxconn, is expected to mass-produce servers with NVIDIA's GB200 in September 2024. FIT HON TENG is one of the leading global server connector manufacturers, with server/interconnect business revenue expected to grow by 15-20% year-on-year in 2024, and AI server-related product revenue to account for 8-10% of the total revenue