Arm Stock News

Morgan Stanley analyst Lee Simpson rates the chip stock at Overweight with a $175 price target,

The British exterminator said slower sales in North America and negative currency impacts would see its full-year profits drop compared to last year, to sums of around £700 million

Apple's (AAPL) new iPhone 16 is coming to stores next week. But the tech giant isn't the only company that stands to benefit from sales of the artificial intelligence-powered phone.

Shares in Arm Holdings (ARM) will likely remain in focus on Tuesday after jumping 7% yesterday following a report in the Financial Times that said Apple's (AAPL) new artificial intelligence-powered iPhone 16 will run on a chip based on the British company's next generation Armv9 CPU.

Warren East, who led Arm between 1994 and 2013, said there have been criticisms that lackluster growth and poor rates of GDP per head in the U.K. are a source of national "embarrassment." He added that too often tech firms in Britain move their operations overseas or list elsewhere abroad.

Apple (AAPL) is expected to unveil the iPhone 16 at an event on Monday — and that's lifting shares of Arm Holdings (ARM).

Shares of chipmaker  Arm Holdings (NASDAQ:ARM) are up 3.3% to trade at $121.15 at last check, after the Financial Times reported the company's artificial intelligence (AI) chip technology will be used in Apple's (AAPL) iPhone 16 that is slated for unveiling later today.

Apple is set to launch its iPhone 16 on Monday. The Big Tech giant isn't the only stock moving ahead of the event.