Why GlobalFoundries Stock Soared 7% on Wednesday

Semiconductor stocks are having a rough time of things Wednesday, with shares of giants such as Taiwan Semiconductor Manufacturing (NYSE: TSM) falling more than 7% on worries of additional U.S. government interference with the chip market.One semiconductor stock in particular, however, is having a much better day: GlobalFoundries (NASDAQ: GFS), the contract semiconductor manufacturer that Intel tried (and failed) to buy a few years ago, is up 7% through 12:50 p.m. ET.What explains investors' differing treatment of these stocks? The story goes like this: Interviewed by Bloomberg yesterday regarding U.S. security guarantees for Taiwan, once-and-maybe-future President Trump said Taiwan "doesn't give us anything," and complained about the country's dominance in contract chip manufacturing. He said, "We should have never let that happen." Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool