🔴 Globalfoundries is trading 4.1% down today on profit-taking despite beating earnings estimates

Globalfoundries is trading at $49.87 (-4.13%) as profit-taking follows an initial positive reaction to its latest earnings report.

• While the latest quarter beat both revenue and EPS estimates, investor focus has shifted toward the forward outlook and the stock’s sharp recent run-up.
• The decline appears to be stock-specific consolidation rather than a wider chip selloff, as the broader semiconductor sector (SOXX) is trading 4.98% higher during the session.