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Arm forecast beats estimates as AI spurs chip upgrades, shares surge

(Reuters) -Arm Holdings surged more than 30% on Wednesday after the British tech company forecast fiscal fourth-quarter sales and adjusted profit above Wall Street expectations as customers aim to design new chips for artificial intelligence work, generating higher royalties. Arm's forecast ranges for its fourth quarter had midpoints of $875 million for sales and 30 cents per share for adjusted earnings, above estimates of $780.3 million and 21 cents per share, according to LSEG data. Arm shares rose roughly 35% in after-hours trading after the forecast and results were released.

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Arm forecast beats estimates as AI spurs chip upgrades, shares surge

Arm forecast beats estimates as AI spurs chip upgrades, shares surge
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Apple s China sales tumble highlights waning clout as local brands gain – The Zimbabwe Mail

BEIJING,- Apple's, opens new tab weak China sales performance may have shocked investors, but customers and analysts have been noting the rising challenges the company faces in its third-largest market. Intensifying competition from domestic rivals, coupled with longer upgrade cycles as consumers spend more cautiously amid an economic slowdown, have stunted Apple's China growth, with…

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Apple s China sales tumble highlights waning clout as local brands gain, ET Telecom

Apple will likely continue to face pressure in China going forward. Jefferies analysts predict Apple s shipments in China will decline by a double digit percentage in 2024.

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apple sales: Apple China sales lag overshadows quarterly profit, revenue beats

Apple reported China sales that missed Wall Street targets; Apple s total installed base of devices hit 2.2 billion; iPhone sales in mainland China were down mid-single digits; Apple s sales in China were $20.82 billion; Apple s wearables segment fell to $11.95 billion.

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