Growing optimism about the next iPhone has propelled Apple Inc. to record highs. Halfway around the globe, a lesser-known Taiwanese company is riding that same wave of euphoria.
Hon Hai Precision Industry Co., the main assembler of the U.S. company's smartphones, has gained 29 percent in the past year, with its shares touching a decade-high on optimism about Apple's 10th anniversary iPhone. That's helped the biggest company in Foxconn Technology Group defy a flat-lining mobile market on expectations Apple will use the anniversary to introduce its most advanced and popular device yet.
Then there's Terry Gou, who's re-tooling Foxconn for the future. The billionaire founder's installed robots throughout a juggernaut that spans China to Southeast Asia to shore up its manufacturing prowess, while investing in emergent fields from virtual reality to artificial intelligence. He spearheaded the acquisition of Sharp Corp., transforming the ailing Japanese giant into a company that's tripled in value and is now jointly investing billions. Underscoring the revival underway, Sharp on Friday raised its annual operating profit forecast by 27 percent.
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