markets

Luke Kawa & J. Edward Moreno5/6/26

Arm Holdings drops after blistering run as executives say they don’t yet have the supply to meet surging demand

Arm Holdings fell in premarket trading on Thursday after executives said they do not currently have the supply to meet soaring demand for its data center CPUs, which were launched in late March.

Shares initially jumped after the bell yesterday after Arm said it has line of sight to more than $2 billion of customer demand for its AGI CPUs booked across fiscal 2027 and fiscal 2028, “more than double what we stated at launch.” The company said it already has 50% market share for CPU compute among top hyperscalers.

“Soon the data center will be Arm’s largest business,” the company said.

But executives said the company hasn’t yet secured the supply to meet that $2 billion demand. It maintained its AGI CPU revenue outlook of $1 billion “while we pursue supply chain capacity,” Chief Financial Officer Jason Child told analysts. It also expects to report adjusted earnings of $0.40 per share, compared to $0.38 estimates.

The company’s shares had been on a blistering run going into earnings, gaining 65% in the last month; this morning’s dip leaves most of those gains intact.

The company posted an otherwise ho-hum set of quarterly results. For the fourth quarter of its 2026 financial year, Arm reported:

$1.49 billion in revenue, above the $1.47 billion analysts polled by FactSet were expecting. The beat was driven by growth in its licensing segment, while its royalties segment missed expectations.
Earnings per share of $0.60, above the $0.58 Wall Street was penciling in.

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J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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