Foxconn Stories September 6

AAPL: 161.91

-0.17

Apple and Foxconn are now rivals in Toshiba bidding in latest twist to saga

The ongoing saga of Toshiba’s sale of its memory chip business seems destined never to end. First it was unclear whether it was Apple or Foxconn bidding for it, then it was both, but possibly neither, then Apple without Foxconn – and in the latest twist, the two are now bidding rivals …

Foxconn Stories August 18

AAPL: 157.50

-0.36

Foxconn’s U.S. plant passes second vote; WSJ backtracks from iPhone display claims

The $3B tax subsidy package needed to persuade Foxconn to open a display plant in Wisconsin passed its second hurdle yesterday as the Wisconsin state assembly voted to approve the deal. This follows a vote by the jobs & economy committee earlier in the week …

Foxconn Stories August 14

AAPL: 159.85

2.37

Foxconn revenue up 7% year-on-year as company heads toward peak iPhone production

Foxconn has reported July revenues of NT$315.06 billion (US$10.62 billion), up 7.53% year-on-year. Its revenue would have been even higher but strong consumer electronics income was offset by poorer performance elsewhere in the business …

Foxconn Stories August 11

AAPL: 157.48

2.16

Update: Reuters reports that the Wisconsin Assembly’s jobs and economy committee voted 8-5, along party lines, to recommend the deal. The Wisconsin State Assembly will vote next, followed by Wisconsin State Senate and by the joint finance committee, before going to the governor for final approval.

While previous reports on Foxconn’s U.S. display factory have described it as making large panels for use in TVs and monitors, a WSJ post today claims that it will be making LCD screens for iPhones.

The facility, which would build liquid-crystal display technology, or LCD, screens used for Apple Inc.’s iPhone, would be the first of its kind in North America.

It’s unclear whether the WSJ has new information, or has made what appears to be a common error of conflating Foxconn with iPhone production.

The wisdom of Wisconsin proving a $3B tax subsidy – amounting to a full 30% of Foxconn’s investment – is again being questioned after a state fiscal analysis calculated that taxpayers wouldn’t recoup their investment until the 2042-2043 fiscal year …

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Foxconn Stories August 2

AAPL: 157.14

7.09

Apple’s decent Q3 results and – especially – its Q4 guidance have seen its stock climb to an all-time high as of this morning’s opening. It opened at $159.68, more than 6% up on yesterday’s close as the company predicted strong sales in Q4 …

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Foxconn Stories July 28

AAPL: 149.50

-1.06

Wisconsin’s $3B in subsidies for Foxconn plant will cost at least $231k per job

Reports that Wisconsin will pay $3B in subsidies in return for Foxconn opening a display plant there have been confirmed, with a breakdown of the incentives. It’s been noted that with the full sum kicking in only if Foxconn provides the maximum quota of 13,000 jobs, the subsidies would amount to the state paying $231,000 per job …

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