Strength Seen in GlobalFoundries (GFS): Can Its 6.8% Jump Turn into More Strength?

Company Overview - GlobalFoundries Inc. (GFS) shares increased by 6.8% to close at $58.13, with notable trading volume compared to typical sessions, and a 7.1% gain over the past four weeks [1] - The company's rally is attributed to its U.S. manufacturing capabilities, which support domestic chip production amid rising geopolitical tensions and trade restrictions on China [1] Earnings Expectations - GlobalFoundries is expected to report quarterly earnings of $0.29 per share, reflecting a year-over-year decline of 45.3%, with revenues projected at $1.62 billion, down 12.3% from the previous year [2] - The consensus EPS estimate for GlobalFoundries has remained unchanged over the last 30 days, indicating that stock price movements may not sustain without trends in earnings estimate revisions [3] Industry Context - GlobalFoundries is part of the Zacks Electronics - Semiconductors industry, where another company, FormFactor (FORM), saw its stock drop by 8.1% to $57.15, with a 3.6% return over the past month [3] - FormFactor's consensus EPS estimate is $0.31, representing a significant increase of 121.4% from the previous year, with its Zacks Rank also at 3 (Hold) [4]