[SMM Morning Meeting Summary: ARM's Underwhelming Performance Drives S

Published: Aug 5, 2024 09:08

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[SMM Morning Meeting Summary: ARM's Underwhelming Performance Drives Stock Price Plunge; Philadelphia Semiconductor Index Falls Sharply] On the macro front, renowned chip design company ARM (UK-based Arm Holdings) triggered dissatisfaction among investors due to its full-year performance guidance falling short of expectations, leading to a stock price plunge of over 15% intraday. Moreover, the company's announcement that it would no longer report shipments of chips based on ARM architecture dealt another blow to its share price. Meanwhile, the NASDAQ Technology Weighted Index (NDX), which measures the performance of the NASDAQ 100 technology stocks, closed down 3.11%...

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