Stock Track | GLOBALFOUNDRIES Plunges 6.42% in Pre-Market as Broader Semiconductor Selloff Overshadows Q2 Beat

Stock Track

Aug 05

GLOBALFOUNDRIES Inc. shares tumbled 6.42% in pre-market trading on Wednesday, mirroring a sharp downturn across the semiconductor sector. The decline came despite the company reporting second-quarter results that exceeded analyst expectations.

The chipmaker posted Q2 adjusted earnings per share of $0.46, beating the consensus estimate of $0.44, and revenue of $1.79 billion, ahead of the $1.77 billion forecast. Its Q3 guidance also edged above projections, with adjusted EPS of $0.51 versus the $0.50 estimate and revenue of $1.89 billion compared to the $1.88 billion consensus.

However, the positive results were overshadowed by a broad-based selloff in chip stocks. Advanced Micro Devices led the decline, falling 8.72% after its Q3 revenue guidance disappointed, while Intel and other peers also retreated. The sector-wide weakness dragged GLOBALFOUNDRIES lower, as investors rotated out of semiconductor names amid cautious sentiment.

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The sector-wide weakness dragged GLOBALFOUNDRIES lower, as investors rotated out of semiconductor names amid cautious sentiment.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GFS","symbol_name":"GLOBALFOUNDRIES Inc.","start_time":0,"source_url":"","article_id":"1188956347","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1188956347","pubTimestamp":1785928599,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"GLOBALFOUNDRIES Inc. shares tumbled 6.42% in pre-market trading on Wednesday, mirroring a sharp downturn across the semiconductor sector. 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