GlobalFoundries forecasts hit by slow smartphone demand recovery, shares fall

GlobalFoundries forecasts hit by slow smartphone demand recovery, shares fall

Contract chipmaker GlobalFoundries forecast revenue and profit for the third quarter below Wall Street estimates on Tuesday, as it grapples with a slow recovery in demand from clients in the consumer electronics market.Shares of the world's third-largest chip foundry, already down around 15 per cent this year

DoubleLine Capital Sees Scope for US Dollar to Sink Further

The dollar is primed to fall a lot further and the appointment of a new Federal Reserve chair who’s willing to cut interest rates quickly could be the catalyst, according to Bill Campbell, portfolio manager at DoubleLine Capital.

GlobalFoundries offers cautious outlook amid weak smartphone demand

GlobalFoundries posted stable results for the second quarter of 2025, reporting net revenue of US$1.69 billion, up 3.4% year-over-year. The company achieved a gross margin of 24.2%, with its non-IFRS gross margin slightly higher at 25.2%. Operating margin stood at 11.6%, while non-IFRS operating margin reached 15.3%. GlobalFoundries recorded a net income of US$228 million, with non-IFRS net income totaling US$234 million.