GlobalFoundries forecasts upbeat Q4 results on strong demand from smartphone makers

Quick Summary:

World's third-largest contract chipmaker, GlobalFoundries , forecast fourth-quarter revenue above Wall Street estimates on Tuesday, driven by recovering semiconductor demand from smartphone makers, sending shares up nearly 10 per cent in premarket trading.

FILE PHOTO: A view of an automated transport system in the clean room of U.S.chipmaker GlobalFoundries' new fabrication plant in Singapore September 12, 2023.

Qualcomm, a major supplier to Apple and one of GlobalFoundries' largest customers, is anticipated to benefit from the expected demand for AI-enabled iPhones from Apple during the upcoming holiday season.

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Article Details

Category: EconomyBusiness

Markets: Singapore

Topics: Cent Globalfoundries Demand Billion Mobile Quarter Revenue Cents Estimates Reported Company

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-05 @ 21:30:36 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 326 words

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Sentences: 13 lines

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