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Hon Hai Drops by Limit After Missing Estimates: Taipei

Hon Hai Precision Industry Co., assembler of Apple Inc.’s iPhone and iPad, dropped by the daily limit in Taipei trading after posting first-quarter profit that missed analysts’ estimates.

The stock fell 7 percent, the biggest decline since November 2008, to close at NT$92.40. The Taipei-based company on April 28 posted net income of NT$14.9 billion ($510 million), about 31 percent less than the NT$21.5 billion average of 10 analysts’ estimates compiled by Bloomberg.