Key Points
Shares of Arm Holdings (NASDAQ: ARM) surged 12.8% this morning following positive earnings from Advanced Micro Devices (NASDAQ: AMD), which reported a 38% year-over-year revenue increase to $10.3 billion, surpassing estimates of $9.9 billion. AMD’s strong results, which included better-than-expected second-quarter guidance of $10.9 billion to $11.5 billion, have now raised expectations for Arm’s upcoming earnings report.
Arm is anticipated to release its earnings report later today, with projected revenue growth of 18.4%, reaching $1.47 billion, and adjusted earnings per share expected to rise from $0.55 to $0.58. Mizuho has also increased its price target for Arm from $230 to $255, maintaining an outperform rating on the stock.
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