IPhone Maker Hon Hai Sets Record High as AI Mania Persists
- Hon Hai turned into winner from laggard on AI server hopes
- A flurry of brokerages have lifted Hon Hai’s price targets
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Shares of Hon Hai Precision Industry Co. soared to a record as a frenzy over artificial intelligence outweighs concerns about a sluggish recovery in the smartphone sector.
The Taiwanese maker of Apple Inc.’s iPhones rose as much as 5.1% to NT$156 on Thursday. Shares took off this month as its strong quarterly earnings fueled optimism over demand for the company’s AI servers.