GlobalFoundries forecasts upbeat Q4 results on strong demand from iPhone supplier

GlobalFoundries, the world’s third-largest contract chipmaker, has raised its fourth-quarter revenue forecast, exceeding Wall Street expectations. This positive outlook is driven by a resurgence in demand from smartphone manufacturers, including Qualcomm, a key supplier for Apple’s iPhones. The news has sent shares of GlobalFoundries soaring nearly 10% in premarket trading.
Reuters:‎Qualcomm, a major supplier to Apple and one of GlobalFoundries’ largest customers, is antic