GLOBALFOUNDRIES Inc

GFS: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Globalfoundries Earnings: Q3 Results and Q4 Guidance Top Consensus but 2025 Recovery Looks Priced In

Phelix Lee

Nov 6, 2024

Globalfoundries, or GF, reported third-quarter numbers and fourth-quarter guidance that surpassed PitchBook consensus figures, and shares surged 15% after the results. Meanwhile, we retain our fair value estimate of USD 42 as the upbeat guidance was within our expectation and management comments on 2025 are in line with our view of improving automotive and industrial demand. GF looks fairly valued with the potential for a 2025 recovery weighed against risks of price pressure from new Chinese capacity.

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GLOBALFOUNDRIES Inc

Globalfoundries Earnings: Q3 Results and Q4 Guidance Top Consensus but 2025 Recovery Looks Priced In

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