Arm Holdings Stock Soars As Company Targets $15 Billion In Annual Sales From New In-House Chip

Arm Holdings Plc (NASDAQ: ARM) shares surged 7.04% in after-hours trading, reaching $144.96, following the company's announcement of a target to achieve $15 billion in annual sales from its new in-house AGI CPU chips, with Meta Platforms Inc as the first major customer. The company expects total annual sales to reach $25 billion within five years, with earnings projected to grow to approximately $9 per share. The new chip, featuring up to 136 cores, will be produced by Taiwan Semiconductor Manufacturing Co.