Shares of Foxconn (OTCMKTS: FXCOF) closed the day 1.2% in red after the tech firm said its first-quarter profit crashed nearly 90% amid the COVID-19 outbreak. Fundamental analysis: Stabilization expected in the second quarter The Taiwanese technology giant Foxconn said it earned T$2.1 billion ($70.25 million) in the first quarter, coming nowhere near the T$8.88 billion forecasted from the analysts. Apple’s main supplier reported a profit of T$19.83 billion a year ago, a nearly 90% increase compared to this year’s results. “Things were not normal in February and early March,” Liu Young-way, chairman, said on a call with investors. Revenue
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