Taiwan's Foxconn , the world's largest contract electronics maker, is expected to report on Friday that fourth-quarter profit rose 2.35% on strong demand for artificial intelligence servers.

Foxconn has expanded its footprint into high-growth tech sectors like AI and EVs in recent years as its core electronics manufacturing business faces challenges due to industry shifts.

Foxconn Technology's (OTCPK:FXCOF) fourth quarter net profit fell 12.8% year-over-year, though the Nvidia (NVDA) supplier forecast AI server revenue to more than double in the first quarter of 2025. The Apple (AAPL) supplier — which is formally known as Hon Hai Precision (OTCPK:HNHAF) (OTCPK:HNHPF) — said fourth quarter (October to December 2024)