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STORY: Foxconn reported a batter-than-expected 14% rise in quarterly profit on Thursday (November 14).

Net profit for July-September hit $1.5 billion, beating analyst forecasts, and marking a fifth consecutive quarter of profit growth.

Foxconn also said it would increase investment in several countries.

It comes amid growing trade tensions between the U.S. and China.

U.S. President-elect Donald Trump has threatened to put a 10% tariff on all U.S. imports and a 60% levy on Chinese-made products.

The move could impact Foxconn as its Zhengzhou plant in China is a major iPhone assembly location.

It has already diversified its supply chain, expanding production in India in particular.

Looking ahead, the world's largest contract electronics maker expects artificial intelligence to be a key revenue driver.

It sees robust growth in its AI server business next year.

Foxconn forecast they would make up for half of its total server revenue next year.

The Taiwanese firm is a key supplier to Apple and Nvidia - serving as a top iPhone assembler.

It kept is guidance for this year of 'significant' sales growth.

Foxconn's October sales hit a record high for the month.

It further said it expects fourth-quarter revenue to grow year-on-year.

The firm has also expanded into contract electric vehicle manufacturing for diversification.

But it delayed its target of a 5% share in the global EV market by next year as the industry faces slowing demand.

Foxconn's shares have doubled so far this year, beating the broader market's.