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 US company’s smartphones, has gained 29% 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.