Foxconn stock climbs on Apple projections
This just in from the “not surprising since a rising tide lifts all boats” department — stock in Apple’s primary manufacturing partner, Foxconn, climbed to a recent high on speculation that Apple might be using metal casings for the next-generation iPhone.
The speculation is in line with what Morgan Stanley analyst Katy Huberty noted last month. Huberty believes that Apple is moving away from the glass casing used on the iPhone 4 and 4S and moving to a metal casing instead. Foxconn spokesman Cheng-Kuang Liu, of course, wisely declined to comment about the rumors.
The use of metal in the new iPhone benefits companies like Foxconn that not only assemble Apple’s products, but produce the metal casings as well. The company’s share price surged almost seven percent yesterday on what so far is baseless speculation.
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