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MU - GlobalFoundries May Continue Its Decline Into eFY25
Micron Technology Inc.
2024-06-25 20:01:51 ET
Summary
GlobalFoundries Inc. is facing challenges with inventory destocking and running at 70% capacity, risking overbuilding with a new foundry.
GlobalFoundries may face growth challenges in the next two years due to macroeconomic environment deterioration and LTA renegotiation for reduced customer volumes.
I believe that GlobalFoundries will more heavily depend on the automotive industry for growth as content per vehicle increases.