GlobalFoundries Inc. ($GFS) Stock Forecast: Down 5.8% Today

What is GlobalFoundries Inc.?

GlobalFoundries Inc. (GFS) is a leading semiconductor manufacturer known for its innovative chip manufacturing technologies. Today, the stock experienced a significant bearish movement in the market.

Why is GlobalFoundries Inc. going down?

GFS stock is down 5.8% on Nov 8, 2024 14:56

• The bearish movement in GFS stock could be attributed to profit-taking by investors after the recent positive earnings report, as the stock had topped Q3 earnings and revenue estimates.
• The finalized major US funding deals with Taiwan Semiconductor Manufacturing Co (TSM) might have raised concerns among investors about increased competition in the chip manufacturing sector, leading to a sell-off in GFS stock.
• The unchanged US investment plan of TSMC after the recent political developments could have also impacted GFS stock negatively, as investors may have shifted focus towards companies with more stable investment outlooks.

GFS Price Chart

GFS Technical Analysis

GFS News

Chipmaker TSMC says US investment plan unchanged after Trump win

TSMC is poised to receive its final award from the Chips and Science Act, a Biden initiative that Trump has described as 'so bad'.

https://www.scmp.com/tech/policy/article/3285673/taiwans-chipmaker-tsmc-says-us-investment-plan-unchanged-after-trumps-election

Taiwan Semi and GlobalFoundries Finalize Major US Funding Deals, Eye Growth in Chip Manufacturing - GLOBALFOUNDRIES ( NASDAQ:GFS ) , Taiwan Semiconductor ( NYSE:TSM )

Prominent chipmakers, including Taiwan Semiconductor Manufacturing Co TSM and GlobalFoundries Inc GFS, have finalized agreements for substantial U.S. government grants and loans to support their manufacturing efforts, Bloomberg cites familiar sources. This milestone, confirmed by a recent ...

https://www.benzinga.com/government/24/11/41811866/taiwan-semi-and-globalfoundries-finalize-major-us-funding-deals-eye-growth-in-chip-manufacturing

GlobalFoundries Inc. ( GFS ) Tops Q3 Earnings and Revenue Estimates

GlobalFoundries (GFS) delivered earnings and revenue surprises of 24.24% and 0.78%, respectively, for the quarter ended September 2024. Do the numbers hold clues to what lies ahead for the stock?

https://www.zacks.com/stock/news/2364105/globalfoundries-inc-gfs-tops-q3-earnings-and-revenue-estimates

NXP Semiconductors Earnings Are Imminent; These Major Analysts Revise Forecasts Ahead Of Earnings Call - NXP Semiconductors ( NASDAQ:NXPI )

NXP Semiconductors N.V. NXPI will release earnings results for its third quarter, after the closing bell on Monday, Nov. 4. Analysts expect the Eindhoven, the Netherlands-based bank to report quarterly earnings at $3.43 per share, down from $3.70 per share in the year-ago period.

https://www.benzinga.com/news/earnings/24/11/41719851/nxp-semiconductors-earnings-are-imminent-these-major-analysts-revise-forecasts-ahead-of-earnings-ca

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GlobalFoundries Inc. Price History

08.10.2024 - GFS Stock was down 5.8%

• The bearish movement in GFS stock could be attributed to profit-taking by investors after the recent positive earnings report, as the stock had topped Q3 earnings and revenue estimates.
• The finalized major US funding deals with Taiwan Semiconductor Manufacturing Co (TSM) might have raised concerns among investors about increased competition in the chip manufacturing sector, leading to a sell-off in GFS stock.
• The unchanged US investment plan of TSMC after the recent political developments could have also impacted GFS stock negatively, as investors may have shifted focus towards companies with more stable investment outlooks.

05.10.2024 - GFS Stock was up 9.1%

• GFS stock experienced a bullish movement today, potentially due to positive market sentiment and expectations of strong earnings from NXP Semiconductors.
• The upcoming earnings release from NXP Semiconductors, a prominent player in the tech sector, alongside analysts adjusting their forecasts, might have increased investor confidence in the market, leading to heightened buying activity in GFS stock.
• Investors might be considering the temporary drop in NXP Semiconductors' earnings per share as a minor setback, focusing on the broader market outlook and growth potential, which could have positively impacted GFS stock performance.
• Today's bullish movement in GFS stock may also mirror general market trends and investor confidence as they position themselves ahead of significant earnings releases and market advancements.

03.08.2024 - GFS Stock was down 3.6%

• The Technology Summit highlighting the critical role of GF-made essential chips in AI acceleration did not translate into a positive market response for GlobalFoundries, potentially indicating investor concerns.
• Implied volatility surging for GFS stock options suggests heightened uncertainty and risk perception among investors, contributing to the bearish movement.
• Despite HP securing significant funding for chip development, this news did not have a direct impact on GlobalFoundries' stock performance, indicating that market dynamics specific to GFS were at play in today's movement.

25.09.2024 - GFS Stock was up 5.2%

• Despite a slight decrease in share price today, GLOBALFOUNDRIES (GFS) had a strong bullish movement overall.
• The recent spike in the stock price over the past month could be attributed to positive earnings or growth expectations.
• The decrease in the P/E ratio may indicate a potential undervaluation of the stock, attracting more investors.
• The long-term fall in stock price over the past year might be due to challenges faced by the semiconductor industry, such as supply chain disruptions and competition.

30.09.2024 - GFS Stock was down 5.6%

• The bearish movement in GFS stock could be due to a shift in investor sentiment towards consumer staples companies like Colgate-Palmolive, as indicated by the analyst downgrade.
• Investors might be reallocating their portfolios based on the updated outlook for consumer goods companies, leading to selling pressure on GFS shares.
• The negative sentiment towards Colgate-Palmolive could be spilling over to other companies in the sector, impacting GFS stock negatively.

05.10.2024 - GFS Stock was up 13.1%

• GlobalFoundries (GFS) had a strong upward movement following its Q3 earnings report, surpassing both earnings and revenue expectations.
• The better-than-expected earnings and revenue performance indicate solid company performance, possibly reflecting high demand for its semiconductor products.
• The rise in stock value may be due to investors' positive outlook on GlobalFoundries' future and its ability to overcome challenges in the semiconductor market.
• Anticipation surrounding NXP Semiconductors' upcoming earnings report, along with revised forecasts, could have also positively impacted the sentiment towards semiconductor stocks, including GlobalFoundries.

18.06.2024 - GFS Stock was down 5.3%

• GFS stock experienced a strong bearish movement despite positive developments and a surge earlier in the day.
• The bearish trend could be attributed to broader market sentiment impacting chip stocks, with concerns about trade restrictions and geopolitical tensions affecting the industry.
• Comments on boosting domestic chip production may have initially boosted GFS stock, but overall market conditions and industry uncertainties likely led to the bearish movement.
• The competitive landscape in the semiconductor industry, particularly in comparison to another major player, may have also influenced investor sentiment towards GFS stock.

19.06.2024 - GFS Stock was down 5.1%

• GFS stock witnessed a significant drop today, possibly influenced by the overall bearish sentiment in the semiconductor industry.
• The jump in GFS stock price mentioned in recent discussions could have been a short-term anomaly, as the latest trend in earnings estimates does not indicate sustained strength.
• Concerns about tightening trade restrictions and rising geopolitical tensions affecting the chip industry may have contributed to the bearish movement in GFS stock.
• Comments by former President Donald Trump regarding a potential shift in U.S. semiconductor policy and domestic chip production could have created uncertainty in the market, impacting GFS stock negatively.

19.06.2024 - GFS Stock was down 5.8%

• GlobalFoundries (GFS) witnessed a significant drop in its stock price today, despite recent positive momentum, as concerns over tightening trade restrictions and geopolitical tensions in the chip industry weighed on investor sentiment.
• Former President Donald Trump's comments regarding a potential shift towards isolationism in U.S. semiconductor policy, aimed at boosting domestic chip production, initially sparked optimism and drove GFS stock higher. However, the stock later retreated, reflecting uncertainty and volatility in the market.
• The overall bearish movement in GFS stock today may have been influenced by profit-taking activities following the recent price surge, as investors reassess the long-term implications of geopolitical tensions and trade restrictions on the semiconductor industry.

30.06.2024 - GFS Stock was down 5.1%

• The bearish movement in GFS could be attributed to profit-taking by investors after a recent bullish run.
• The focus on Qualcomm and its competitors in the semiconductor industry may have diverted attention from GFS, leading to a decrease in buying interest.
• Investors might be rotating out of traditional retail stocks like GFS and moving towards tech-related industries, impacting the stock's performance negatively.
• The overall sentiment in the market towards food retail stocks might have shifted, causing a decline in GFS's stock price.

02.07.2024 - GFS Stock was down 5.0%

• GlobalFoundries stock hitting a 52-week low at $45.48 indicates a strong bearish sentiment among investors.
• Shareholders backing new directors may have initially been seen as positive, but the overall market shifts likely overshadowed this news.
• The in-depth analysis comparing Qualcomm with competitors in the semiconductor industry may have highlighted challenges or weaknesses in GlobalFoundries, contributing to the bearish movement.
• The overall market shifts could be related to broader economic concerns impacting semiconductor stocks, further pressuring GFS downwards.

15.07.2024 - GFS Stock was up 5.1%

• GFS experienced a bullish movement recently.
• This positive shift could be linked to the upbeat atmosphere in the semiconductor sector, driven by increased demand and technological advancements.
• Potential indirect contributors to this optimistic investor sentiment for GFS include a recommendation to purchase Clorox by Jim Cramer and the generally favorable market outlook.
• Industry-wide comparisons, such as a recent analysis involving ON Semiconductor and its competitors, may have also portrayed the semiconductor industry positively, potentially influencing GFS's stock performance.