Breaking Finance News

Foxconn Hiring 90,000 Workers Ahead of Apple Product Launches

The Taipei Times is reporting that Hon Hai, known as Foxconn in America, is recruiting 90,000 Chinese workers for its Shenzhen, China production complex in order to meet demand by Apple (NASDAQ: APPL).

The factory produces iPads and iPhones for Apple and has completed testing for the assembly of the new iPhone, according to sources.

Earlier in the month, Chinese media reported that Hon Hai was recruiting for its Zhengzhou plant which also produces iPhones and iPads.

In early trading, shares of Apple are up 1.31 percent to $446.79. Last week, Apple reported better than expected earnings sending its stock well about its 50 day moving average. Over the weekend, investors were more bullish than usual indicating that the chart showed room for additional upside. Today’s strength may also be attributed to technical buying.

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Disclosure: At the time of this writing, the author was long Apple.

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