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Foxconn will hold a seminar in Japan on April 9 to present its electric vehicle (EV) strategy, targeting local automakers and suppliers. Jun Seki, the company's chief EV strategy officer and a former Nissan executive, is set to speak at the event. This follows Foxconn's recent agreement with Mitsubishi Motors to produce EVs for Oceania, marking its first outsourcing deal with a Japanese automaker and indicating a potential shift in Japan's automotive landscape amid rising competition from Chinese manufacturers like BYD.
The US has added 80 organizations to its export blacklist, with over 50 based in China, to prevent access to advanced computing technologies for military purposes. The restrictions, announced by the Department of Commerce’s Bureau of Industry and Security, target entities involved in high-performance computing, AI, and hypersonic weapons development. China's Foreign Ministry condemned the move as a violation of international law, highlighting the ongoing tensions between the US and China.
UBS has downgraded Sunny Optical Technology Group from "buy" to "sell," lowering its price target to HK$67.00, citing overextended stock valuation and concerns over future earnings amid macroeconomic risks. Despite strong fundamentals and a significant stock return, analysts question the sustainability of demand and the realism of aggressive EPS growth forecasts.In contrast, BofA Securities and Citi maintain "buy" ratings with higher price targets, highlighting growth potential in the automotive sector and camera modules, while Jefferies has lowered its target to HK$85.00, expressing caution over smartphone demand and growth prospects.
Goldman Sachs has revised its forecast for global AI server shipments, anticipating a slowdown in market growth due to product transition challenges, supply and demand uncertainties, and rising production complexities. The new projections for 2025 and 2026 have been adjusted to 19,000 and 57,000 units, respectively, down from 31,000 and 66,000 units. Additionally, the firm has lowered target prices for several Taiwan-based companies within the AI server supply chain.
Goldman Sachs has revised its forecast for global AI server shipments, anticipating a slowdown in market growth due to product transition challenges, supply and demand uncertainties, and rising production complexities. The new projections for 2025 and 2026 are now 19,000 and 57,000 units, down from 31,000 and 66,000 units, respectively. Additionally, target prices for several Taiwan-based companies in the AI server supply chain have been lowered.
Foxconn has invested $142 million in Texas, acquiring an 86.34-acre property and a 1 million square-foot building in Houston through its subsidiary, Ingrasys Technology Inc. The facility is expected to expand AI server production for North American clients, excluding Apple Inc.
Garmin Ltd. has been selected to provide the G3000 PRIME for the Pilatus PC-7 MKX military training aircraft. The company specializes in satellite geopositioning systems, with a diverse product range across marine, land, and aerial applications, and operates nine production sites globally. In 2024, net sales were distributed across various sectors, with outdoor activities leading at 31.2%, and geographical sales primarily in the Americas (48.2%) and Europe/Middle East/Africa (36.8%).
UBS has upgraded Air France-KLM from Buy to Neutral, lowering the price target from €12.05 to €11.45, citing a 16% rise in share price this year reflecting improved earnings outlook. The group aims for a 50% reduction in CO2 emissions by 2030 and plans to optimize net investments below €3 billion for 2024. Despite challenges, including a hiring freeze and increased unit costs, the company expects a 4% capacity increase in Available Seat Kilometers for 2024.
Asian shares showed mixed results, with Chinese markets declining after a rally on Wall Street driven by tariff hopes. The Nikkei 225 rose 0.3%, while Hong Kong's Hang Seng fell 2.2%. U.S. futures dipped slightly, and oil prices remained stable as investors await key economic updates this week.
Kevin Sneader of Goldman Sachs warns that while the US economic outlook is dimming due to trade tensions, Asia tends to overreact to market noise. He identifies three key risks for the region: significant tariffs, geopolitical uncertainty, and a domestic slowdown in China. Despite these challenges, Sneader encourages investors to remain diversified and not overlook opportunities in the US market.
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Foxconn to unveil electric vehicle strategy at Japan seminar
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