GlobalFoundries (NASDAQ:GFS) reported solid Q4 results, capping off a year of sequential growth that positions them well for 2025. While year-over-year performance showed a decline, the consistent quarterly improvement is a positive sign. Automotive was a standout performer in 2024 and is a key target for future growth. The company anticipates increased demand across other segments as customer inventory issues subside. Specifically, ongoing tariffs and embargoes are creating opportunities for them as customers seek to diversify their sourcing.
CEO Thomas Caulfield is transitioning to Executive Chairman, with COO Tim Breen taking over as CEO. Caulfield has been a highly effective leader for GlobalFoundries, skillfully navigating the difficult semiconductor landscape. This may not be his only move in 2025 as he is rumored to be a candidate at Intel for the CEO role. For more details, key highlights, and commentary, check out the high-level earnings summary.
