Why GlobalFoundries Sank Today
Shares of specialty semiconductor manufacturer GlobalFoundries (NASDAQ: GFS) sank on Tuesday, down 10.3% as of 3:20 p.m. ET.
The company reported earnings this morning that beat expectations by a decent margin; however, demand may have been "pulled in" to the second quarter, as third-quarter guidance came in well below analysts' expectations.
GlobalFoundries is a U.S.-based fab for "specialty" semiconductor manufacturing nodes. These are chips that aren't on the "leading-edge" but are important to several end markets across consumer electronics, autos, Internet of Things (IoT) devices, and a small segment in the periphery of data centers.
Source Fool.com
