Why Arm Holdings Stock Popped on Wednesday
On reports that it has secured a new deal with a major company in the chip sector, Arm Holdings (NASDAQ: ARM) saw a leap in share price Wednesday. The U.K.-based semiconductor specialist's equity increased to close the day over 6% higher, crushing the 0.3% gain of the S 500 (SNPINDEX: ^GSPC) that trading session.
Reuters published an article stating that leading mobile chip company has elected to use Arm's current technology in its products. Citing unidentified "sources familiar with the matter," the news agency said that Qualcomm's recently introduced PC and smartphone chips will be packed with the ninth version of Arm's tech.
Image source: Getty Images.
Source Fool.com
Qualcomm Inc. Stock
€112.66
0.750%
The stock is one of the favorites of our community with 29 Buy predictions and 4 Sell predictions.
With a target price of 171 € there is a hugely positive potential of 51.78% for Qualcomm Inc. compared to the current price of 112.66 €.
