“Foxconn Technology Co. climbed to the highest in more than five months in Taipei trading on speculation Apple Inc. may use metal casings for its next generation iPhone, benefiting the Taiwanese company,” Weiyi Lim reports for Bloomberg.
“The stock jumped as much as 6.9 percent to NT$116 as of 11:16 a.m. local time, the highest intraday level since Aug. 16,” Lim reports. “‘There’s talk that Apple is going to use metal for its new iPhone, so this will benefit companies like Foxconn,’ said Dennis Chan, an analyst at Yuanta Securities Co. in Taipei. ‘That’s why it’s surging.'”
Lim reports, “The U.S. company sold 37 million iPhones in the period ended Dec. 31, with customers snapping up the new 4S model that went on sale in October.”
Read more in the full article here.