GlobalFoundries forecasts upbeat Q4 results on strong demand from smartphone makers

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The story "GlobalFoundries forecasts upbeat Q4 results on strong demand from smartphone makers" was covered 2 weeks ago by Channel News Asia, a news publisher based in Singapore.

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GlobalFoundries forecasts upbeat Q4 results on strong demand from smartphone makers - Channel News Asia

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.