Arm rises after Apple unveils boosted iPhone 16
Updates after Apple event
** U.S.-listed shares of Arm Holdings ARM.O up 6.2% at $124.62 on Mon after Apple AAPL.O unveils new artificial intelligence-boosted iPhone
** AAPL's latest phones use its new A18 chip and have an aluminum back, along with new customizable button that can be used for camera controls
** ARM's shares rose earlier after Financial Times reported the A18 chip was developed using SoftBank 9984.T-owned Arm's newest V9 chip design
** Arm, which signed deal last year with AAPL that "extends beyond 2040", had said in Jul its V9 chip accounts for 50% of smartphone rev
** U.S.-listed shares of Arm bouncing back after 4.7% slide on Fri amid broader equities selloff after payrolls report heightened concerns about the U.S. economy
** With move on Mon, shares up ~66% YTD
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
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