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    2317   TW0002317005

HON HAI PRECISION INDUSTRY CO., LTD.

(2317)
  Report
End-of-day quote Taiwan Stock Exchange  -  2023-01-31
100.00 TWD   +0.30%
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Nasdaq down as investors watch Black Friday sales, China infections

11/25/2022 | 01:04pm EST

(For a Reuters live blog on U.S., UK and European stock markets, click or type LIVE/ in a news window)

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Retailers in focus as Black Friday sales start

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Activision down on likely FTC lawsuit to block Microsoft deal

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Apple slips, Foxconn China plant sees lower shipments

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Indexes: ROBO

Nov 25 (Reuters) - The Nasdaq closed lower on Friday with pressure from Apple Inc in a subdued trading session for Wall Street's main stock indexes.

Apple slipped on news of reduced iPhone shipments in November from a Foxconn plant in China as production was hit by COVID-related worker unrest.

The holiday-shortened trading session focused on retailers as Black Friday sales kicked off against the backdrop of stubbornly high inflation and cooling economic growth.

Shoppers were expected to turn out in record numbers to shop for Black Friday deals, but with inclement weather, crowds outside stores were thin on the traditionally busiest shopping day of the year.

U.S. retail stocks have become a barometer of consumer confidence as inflation bites. Year-to-date the S&P 500 retail index is down a little over 30%, while the S&P 500 is down 15% so far this year.

Shares of retailers Target Corp, Macy's Inc and Best Buy Co Inc were mixed, while the S&P consumer discretionary index was slightly up.

"It's such a low volume trading day as most people are at home that I never count Friday after Thanksgiving," said Ed Cofrancesco, chief executive officer at International Assets Advisory, in Orlando.

Starting next week, the focus will be on retail sales, China's newest COVID outbreak and the Federal Reserve's next steps, he added.

Wall street's main indexes have rallied strongly since hitting their early October lows, with the S&P 500 up more than 15% on a boost from a better-than-expected earnings season and more recently on hopes of less aggressive interest rates hikes by the U.S. Federal Reserve.

Expectations are now of a 75.8% chance that the Fed will increase its key benchmark rate by 50 basis points in December, with the rates seen peaking in June 2023.

Unofficially, the Dow Jones Industrial Average rose 152.97 points, or 0.45%, to 34,347.03, the S&P 500 lost 1.14 points, or 0.03%, to 4,026.12 and the Nasdaq Composite dropped 58.96 points, or 0.52%, to 11,226.36.

Weighing on Nasdaq, Activision Blizzard Inc fell on a media report that the U.S. Federal Trade Commission was likely to file an antitrust lawsuit to block Microsoft Corp's $69 billion takeover bid for the video game publisher.

U.S. stock markets closed at 1 p.m. ET on Friday, after being closed on Thursday for Thanksgiving. (Reporting by Ankika Biswas and Shubham Batra in Bengaluru; Editing by Shounak Dasgupta and Richard Chang)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ACTIVISION BLIZZARD, INC. 0.17% 76.7 Delayed Quote.0.20%
APPLE INC. 0.79% 145.43 Delayed Quote.11.93%
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -0.36% 0.7123 Delayed Quote.3.48%
BEST BUY CO., INC. 1.05% 89.65 Delayed Quote.11.77%
BRITISH POUND / US DOLLAR (GBP/USD) -0.54% 1.23223 Delayed Quote.1.76%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) -0.14% 0.7521 Delayed Quote.1.80%
DOW JONES INDUSTRIAL 0.02% 34092.96 Real-time Quote.2.83%
EURO / US DOLLAR (EUR/USD) -0.18% 1.09942 Delayed Quote.1.48%
HON HAI PRECISION INDUSTRY CO., LTD. 0.30% 100 End-of-day quote.0.10%
INDIAN RUPEE / US DOLLAR (INR/USD) -0.55% 0.012171 Delayed Quote.1.10%
MICROSOFT CORPORATION 1.99% 252.75 Delayed Quote.5.39%
NASDAQ COMPOSITE 2.00% 11816.32 Real-time Quote.12.90%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) -0.02% 0.6514 Delayed Quote.1.40%
TARGET CORPORATION 2.87% 177.08 Delayed Quote.15.50%
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Analyst Recommendations on HON HAI PRECISION INDUSTRY CO., LTD.
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Financials
Sales 2022 6 548 B 220 B 220 B
Net income 2022 142 B 4 748 M 4 748 M
Net cash 2022 279 B 9 362 M 9 362 M
P/E ratio 2022 9,84x
Yield 2022 5,19%
Capitalization 1 317 B 44 158 M 44 158 M
EV / Sales 2022 0,16x
EV / Sales 2023 0,15x
Nbr of Employees 826 608
Free-Float 87,4%
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Hon Hai Precision Industry Co., Ltd. Technical Analysis Chart | MarketScreener
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Technical analysis trends HON HAI PRECISION INDUSTRY CO., LTD.
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TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 16
Last Close Price 100,00 TWD
Average target price 129,38 TWD
Spread / Average Target 29,4%
EPS Revisions
Managers and Directors
Yang Wei Liu Chairman, President & General Manager
Te Tsai Huang Financial Director & Manager-Corporate Governance
Wei Bin Lee Chief Information Security Officer
Tsing Yuan Hwang Independent Director
Kuo Cheng Wang Independent Director