Apple's iPhone order shift to beat China lockdown boosted Foxconn's earnings

Apple moving orders from lockdown-hit factories and suppliers has led iPhone manufacturer Foxconn to report its highest Q1 net income since 2014.The Chinese government's zero-tolerance coronavirus lockdowns have hit around half of Apple's top 200 suppliers in or near Shanghai. Yet Foxconn has avoided some lockdowns, even as areas close to its factories have been affected, and now has seen a marked increase in earnings.According to the Financial Times, Foxconn has now reported its highest first-quarter net income in eight years. It's specifically because of firms such as Apple moving their orders to Foxconn and away from lockdown-affected alternative suppliers. Read more...