GlobalFoundries Beats Expectations as Chip Supply Improves, Aids Major Customers
-
GlobalFoundries forecasts higher than expected profit for Q4, suggesting easing of chip supply glut
-
Q3 earnings and revenue also beat analyst estimates
-
CEO says collaborating with customers to support inventory reduction efforts
-
Customers like Qualcomm and Dept. of Defense
-
Comes amid signs of recovery in PC chip demand from Intel and AMD