<ul><li>GlobalFoundries, the world’s third-largest contract chipmaker, has raised its fourth-quarter revenue forecast, driven by strong demand from smartphone manufacturers, including Qualcomm, a key supplier for Apple’s iPhones.</li><li>GlobalFoundries expects fourth-quarter revenue to be between $1.80 billion and $1.85 billion, beating estimates of $1.80 billion.</li><li>Shares of GlobalFoundries surged nearly 10% in premarket trading following the positive revenue forecast.</li><li>Qualcomm is expected to benefit from the demand for AI-enabled iPhones from Apple during the upcoming holiday season.</li></ul>

GlobalFoundries forecasts upbeat Q4 results on strong demand from iPhone supplier

Discover more