35 Chip Stocks In Focus Amid Tech Selloff

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31. GlobalFoundries Inc. (NASDAQ:GFS)

Number of Hedge Fund Holders: 22  

GlobalFoundries Inc. (NASDAQ:GFS) provides a range of mainstream wafer fabrication services and technologies worldwide. The report for the third quarter of 2024 shows revenue of $1.7 billion and a gross margin of 23.8%, suggesting a moderate level of profitability from the company’s core operations. Global News Wire reported in January that the company plans to establish a new center for advanced packaging and testing of US-made chips at its New York facility. The center will securely manufacture, process, package, and test semiconductors in the US, backed by investments from New York State and the US Department of Commerce. This will support the growing demand for GF’s silicon photonics and other essential chips needed in AI, automotive, aerospace, defense, and communications.

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