Understanding the Market | FIT HON TENG falls over 5%, Hon Hai's November revenue is weak, and the market worries that AI demand may not offset Apple's sluggish performance
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FIT HON TENG's stock price fell over 5%, reporting HKD 3.22 as of the time of writing, with a trading volume of HKD 26.0128 million. Hon Hai announced a revenue of NT$ 672.6 billion for November 2024, a decrease of 16.43% month-on-month and an increase of 3.47% year-on-year. The market is concerned that AI demand cannot offset weak iPhone sales, with Apple's business accounting for over 50% of Hon Hai Precision's total sales. Executives expect that by 2025, cloud business sales will be comparable to mobile business sales
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