Arm Holdings shares surged more than 15% on Monday as a broad recovery in artificial intelligence stocks lifted the semiconductor sector, while falling US Treasury yields and declining crude prices eased some of the pressure on growth-oriented technology shares. The rally extended a sharp rebound in Arm stock, which has gained more than 27% over the past five trading sessions.
Arm Holdings stock gained 7% on Thursday after CEO Rene Haas said he was increasingly confident the company could meet Wall Street's higher revenue expectations for its new data-centre chip, the AGI CPU. Haas made the comments during an interview with CNBC's Jim Cramer on Wednesday, saying he was “more confident” about achieving $2 billion in demand for the chip than he was during Arm's July ea...
Arm Holdings CEO Rene Haas said Wednesday he is increasingly confident the chip designer can secure enough supply to meet $2 billion in customer demand. "So what we said in the earnings call I think was May timeframe that we had visibility to $2 billion, and what we said in the last earnings call was that our confidence to achieve that $2 billion number had increased from May to July," Haas said.
Arm Holdings shares fell 7% in premarket trading Monday as a broad risk-off move hit technology and semiconductor stocks. A sharp drop in the Nasdaq Composite added pressure to high-multiple companies in the chip design space.
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