Foxconn's Apple Reliance Keeps Shrinking, With Revenue Share Now Below 29%
AI Market Summary
Foxconn's disclosure that Apple-related revenue has fallen below 29% while cloud/network (including AI servers) has risen to 51% underscores a structural shift toward AI infrastructure demand, which the company frames as permanent. Separately, expectations that TSMC's CoWoS advanced packaging capacity will expand by over 50% next year reinforces tight AI supply-chain dynamics. The news may reshape near-term positioning across AI hardware and key suppliers.
Impact level
● Medium
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● Neutral
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Foxconn said revenue derived from Apple fell further from about 29% in the previous quarter, underscoring a continued drop in its dependence on the iPhone maker. Over the same period, the company's cloud and networking segment—including AI servers—rose to 51% of revenue. Management described the shift as structural and lasting, a message that has unsettled some investors.
Separately, the market expects TSMC's CoWoS advanced packaging capacity to expand by more than 50% next year as demand for AI chips remains strong.
