Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning.

Welcome to Wednesday and thanks for joining us here on Wall Street Breakfast on this Wednesday, May 14th.

I'm Julie Morgan. Foxcon rides the AI wave but braces for tariff trouble.

Airbnb rolls out new services for summer travelers, and YouTube scores its first NFL game.

Foxcon Technologies' first quarter profit jumped 91% beating estimates driven by demand for AI servers,

but the outlook was overshadowed by

uncertainty around tariffs. The Apple suppliers said net profit attributable to the parent company

surged 91% year over year to the equivalent of $1.39 billion. According to a report from Reuters,

the numbers beat analysts estimates by the equivalent of $1.25 billion. Foxcon's chairman said on an earnings call that U.S. tariffs will bring

more challenges and his outlook for the full year was more cautious than before. The company has a big

manufacturing presence in China, though

the U.S. and China have agreed to a significant reduction in tariffs on each other's goods

for 90 days. Foxconn adjusted the 2025 outlook to significant growth from strong growth,

citing foreign exchange. The company's chairman in the

earnings release pointed out that in addition to tariffs, geopolitics and changes in monetary

policy around the world may affect the global economy. And even though current sales forecasts

have not changed much, the exchange rate may affect revenue after conversion into

new Taiwan dollars. However, revenue in U.S. dollars remains unchanged. Foxcon's first quarter

revenue climbed 24% year over year. The company said the key word to sum up first quarter performance

is without a doubt, AI. The chairman

reiterated the view that 2025 is the first year of AI, saying that the performance of the AI

server business is quite impressive, with revenue growing by more than 50% compared to the same

...