ARM Shares Surge as New Chips Power Next-Generation Smartphones
ARM is being buoyed by a surge in smartphones that take advantage of its more powerful architecture for 64-bit semiconductors found in newer devices.
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Shares of ARM Holdings Plc, the chip designer whose technology is in almost all of the world’s smartphones, rose the most in two years as consumers snapped up the more powerful devices that use its products.
First-quarter revenue increased 22 percent to 227.5 million pounds ($339 million), the Cambridge, England-based company said Tuesday. That compared with the 224.4 million-pound average estimate from analysts, according to data compiled by Bloomberg. As reported in dollars, sales rose 14 percent.