It’s a reminder tariffs are still weighing on international trade. Foxconn is best known in the U.S. for being the primary contract manufacturer for Apple and an essential part of the iPhone supply chain.

Taiwan's Foxconn, the world's largest contract electronics maker, downgraded its full-year outlook on Wednesday citing recent appreciation of the Taiwan dollar, even as it struck an upbeat note about booming demand for AI servers.

Taiwan's Foxconn, the world's largest contract electronics make says its first-quarter profit leapt 91% and beat the market forecast on continued strong demand for artificial intelligence (AI) servers.