arm holdings stock rose about 5% after keynote remarks by its ceo (rene haas) at an industry conference.
Arm Holdings (NASDAQ:ARM) stock advanced around 5% on Monday’s dealing in the wake of bullish comments from its chief executive Rene Haas, who was a keynote speaker at an industry conference.
ARM is already a dominant player in the smartphone processor market, and, according to Haas, the company is now targeting a major push for a larger stake in the PC market.
Haas reckoned that Arm could potentially capture more than 50% of the Windows PC market over the next five years – market research cited in media reports meanwhile say Arm had just 14% of the market segment in 2023.
Up until the PC market ‘chip’ market has been dominated by Intel and AMD.
The demand for AI enabling chips is seen as a significant potential driver of growth for Arm, media reports claim.
In New York, ARM Holdings stock was up $6.38 or 5.29% changing hands at $126.90.
