Arm Stock Bounces Amid Apple Rumors

Shares continue to outperform roughly a year after going public

Jake Scott

Deputy Editor

Sep 9, 2024 at 10:44 AM

AAPL
ARM

Shares of chipmaker Arm Holdings (NASDAQ:ARM) are up 3.3% to trade at $121.15 at last check, after the Financial Times reported the company's artificial intelligence (AI) chip technology will be used in Apple's (AAPL) iPhone 16 that is slated for unveiling later today.

Since going public in September 2023, ARM has outperformed on the charts. The security boasts an 88.8% nine-month lead, and is up 62.9% in 2024. On July 9, Arm stock touched an all-time high of $188.75, though it's pulled back considerably since, with at least two of its rallies losing steam below the $140 level.

Short interest is up 23.7% over the last month, and the 17.27 million shares sold short represent 13.8% of ARM's total available float. Plus, the stock's Schaeffer's Volatility Scorecard (SVS) of 91 out of 100 shows that it exceeded option traders' volatility expectations over the last year.

Follow @Schaeffers

You Don’t Need 25 Alerts -- You Need ONE You Can Trust!

That’s the idea behind Trade of the Week, Schaeffer’s newest trade alert.

Every Monday morning before the opening bell, you’ll receive a single, expertly researched trade recommendation -- built from the same proprietary research we’ve been using for over four decades.

It’s not just a signal.

It’s a plan designed for traders who are tired of jumping from alert to alert without ever finding their edge.

No juggling alerts. No switching directions mid-week. Just one clear, expertly researched trade idea -- delivered before the market even opens.

👉 JOIN RIGHT NOW FOR JUST $1 TO GET THE NEXT TRADE!