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GlobalFoundries Inc ( (GFS) ) has issued an update.
GlobalFoundries reported its financial results for the fourth quarter and fiscal year 2024, noting a revenue of $1.83 billion in Q4 with a net loss of $729 million, impacted by a $935 million impairment charge due to legacy investments. The company made strides in diversifying its manufacturing technology and announced significant collaborations, such as the development of an advanced packaging center in New York and partnerships to enhance smart card and AI interconnect technologies. These efforts align with the company’s strategy to meet long-term customer demand and position itself for growth in 2025.
More about GlobalFoundries Inc
GlobalFoundries Inc. (GF) operates in the semiconductor industry, focusing on the production of essential chips for applications in AI, automotive, aerospace, defense, and communications. The company is known for its technology and manufacturing capabilities, particularly in advanced packaging and photonics, and is committed to expanding its U.S. manufacturing footprint.
YTD Price Performance: -11.16%
Average Trading Volume: 1,655,546
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $21.36B
For an in-depth examination of GFS stock, go to TipRanks’ Stock Analysis page.
