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Nvidia, Apple Suppliers Brace For Trump's Return: Foxconn, Pegatron, Quanta Prepare For Rapid US Investment Boom
Benzinga
Nvidia Corp. and Apple Inc.’s key suppliers — Hon Hai Precision Industry Co. Ltd. , popularly known as Foxconn, Pegatron Corp. (OTC:PGTRF), and Quanta Computer — plan to quickly increase U.S. investments should trade policies shift under Donald Trump’s second term.
What Happened: Foxconn chairman Young Liu announced on Thursday that the company is ready to expand its U.S. operations. The company is a leading contract electronics manufacturer and has substantial production bases in Texas, Wisconsin, and Ohio.
“We can very quickly adjust our investment if necessary,” Liu said at an investor’s conference, reported Nikkei Asia.
Pegatron, a key supplier to Tesla Inc. , Microsoft Corp. , and Apple, is also prepared to respond swiftly to any policy changes.
“If necessary, we can quickly convert [our repair facility in Indiana] into production lines to accommodate policy changes [such as tariffs],” co-CEO Johnson Deng told investors, according to the report.
See Also: Elon Musk Says The ‘Prophecy Has Been Fulfilled’ — Peanut The Squirrel-Themed Meme Coin Spikes 11%
Quanta Computer’s cloud-computing subsidiary, QCT, is ready to expand its manufacturing capacity in California if needed, said the company’s president, Mike Yang.
“We have continued to expand our capacity there in the past two years and have space to further expand anytime if needed. We also have a footprint in Thailand as well.”
Why It Matters: During his campaign, Trump underscored his “America First” agenda and warned of potential tariffs on various countries, creating uncertainty for the tech supply chain.
Despite these political uncertainties, Foxconn and other leading tech suppliers continue to view artificial intelligence as the key growth driver for the industry through 2025, the report noted.
The stock market and cryptocurrency sector have seen significant growth since Trump’s victory, with major U.S. stock indexes hitting record highs since Trump’s win against Vice President Kamala Harris.
Earlier this week, Yang Chin-long, the governor of Taiwan's central bank, voiced optimism about Taiwan Semiconductor Manufacturing Co.'s upcoming $65 billion investment in U.S. factories.
“Chips and information and telecommunications products are what the U.S. needs most. I don't think the United States would penalize Taiwan,” he said during a legislative session on Thursday.
Read Next:
- Dogecoin Tumbles Despite Elon Musk, Vivek Ramaswamy’s ‘DOGE’ Appointment: This Is What Indicators Tell About Its Next Moves
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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