GlobalFoundries Inc. stock falls amid broader market weakness
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 25 2024
0mins
Source: Yahoo Finance
GlobalFoundries Inc. shares fell by 5.12% as it crossed below the 20-day SMA, reflecting a challenging trading environment.
The decline in GlobalFoundries' stock price comes amid broader market weakness, with the Nasdaq-100 down 0.88% and the S&P 500 down 0.44%. This sector rotation indicates that despite the overall market's struggles, GlobalFoundries is experiencing specific pressures that are contributing to its price drop.
Investors are closely monitoring the semiconductor sector, which is currently facing headwinds. The performance of GlobalFoundries may be influenced by these broader trends, and analysts suggest that the company needs to adapt to the changing market dynamics to regain investor confidence.
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Analyst Views on GFS
Wall Street analysts forecast GFS stock price to fall
11 Analyst Rating
2 Buy
7 Hold
2 Sell
Hold
Current: 89.960
Low
35.00
Averages
41.32
High
48.50
Current: 89.960
Low
35.00
Averages
41.32
High
48.50
About GFS
GlobalFoundries Inc. is a semiconductor manufacturer. The Company offers a range of mainstream wafer fabrication services and technologies. It manufactures a range of semiconductor devices, including microprocessors, mobile application processors, baseband processors, network processors, radio frequency modems, microcontrollers, and power management units. Its specialized foundry manufacturing processes include a library consisting of qualified circuit-building block designs (known as IP titles or IP blocks), and advanced transistor and device technology. The Company's differentiated technology platforms include radio frequency (RF) silicon-on-insulator (SOI), Fin Field-Effect Transistor (FinFET), FDX, Complementary Metal-Oxide Semiconductor (CMOS), Silicon Germanium (SiGe), Gallium Nitride (GaN), Bipolar-CMOS-DMOS (BCD), and Silicon Photonics (SiPh).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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