Reuters: Technology News: Foxconn shares surge on brokerage report on iPhone orders

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Foxconn shares surge on brokerage report on iPhone orders Oct 12th 2012, 02:10 Tweet Share this Email Print Related News U.S. panel to probe new wave of complaints against Huawei, ZTE Wed, Oct 10 2012 China options limited as U.S. panel outcasts Huawei, ZTE Tue, Oct 9 2012 U.S. lawmakers seek to block China Huawei, ZTE U.S. inroads Mon, Oct 8 2012 UPDATE 4-China's Huawei, ZTE should be kept from U.S. - draft Congress report Mon, Oct 8 2012 Foxconn denies China iPhone plant hit by strike Sat, Oct 6 2012 Analysis & Opinion China’s telco suppliers can’t escape spying row Counterparties: Apple's "headaches" Related Topics Tech » Hot Stocks » Asian Markets » Workers walk out of the entrance to a Foxconn factory in Chengdu, Sichuan province July 4, 2012. Credit: Reuters/Stringer HONG KONG | Thu Oct 11, 2012 10:10pm EDT HONG KONG (Reuters) - Shares of Foxconn International Holdings Ltd (FIH), the world's biggest contract maker of cellphones, rose by more than 10 percent on Friday, extending gains from the previous day on a brokerage report that said it might get iPhone orders soon. Shares of FIH, which assembles handsets for the likes of Nokia Oyj, Huawei Technologies Co Ltd and ZTE Corp, rose as much as 10.2 percent to a high of HK$3.35 in early trade, the strongest intraday level since June. That beat a 0.8 percent gain in the benchmark index. On Thursday, the stock gained 17 percent, logging the biggest one-day gain since mid-2009. The sharp rises were attributed to a brokerage report from Daiwa Capital Markets saying that FIH was likely to get iPhone orders soon, even though it does not currently assemble Apple products. "Our industry research indicates that FIH is likely to start producing iPhones in late 2012 or early 2013," Daiwa said. Foxconn International said it would issue a statement later today, although it declined to comment on the report for now. (Reporting by Lee Chyen Yee; Editing by Anne Marie Roantree) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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