Sector movers: Apple results give UK tech stocks a boost, ARM rises
Forecast-busting results from US smartphone and tablet giant Apple gave London-listed tech shares a boost on Wednesday, especially those of supplier ARM Holdings.
Apple Inc.
$171.48
13:09 28/03/24
ARM Holdings
1,700.00p
17:09 02/09/16
FTSE 100
7,952.62
17:14 28/03/24
FTSE 250
19,884.73
17:14 28/03/24
FTSE 350
4,383.21
17:14 28/03/24
FTSE AIM All-Share
743.26
16:50 28/03/24
FTSE All-Share
4,338.05
16:50 28/03/24
FTSE Small Cap
6,388.90
17:14 28/03/24
Imagination Technologies Group
181.25p
16:35 02/11/17
Laird
199.90p
08:43 29/06/18
Nasdaq 100
18,254.69
12:15 28/03/24
Pace
415.40p
17:15 23/12/15
Pebble Beach Systems Group
10.75p
16:55 28/03/24
Sepura
19.75p
17:00 23/05/17
Technology Hardware & Equipment
1,920.18
16:30 25/03/24
ARM, the semiconductor and software design firm whose chips are used in Apple’s iPhones, was bolstered by the news that the California-based group sold 74.5m of the smartphones in three months to December.
Apple’s chief executive Tim Cook said that demand for the iPhone was “staggering”, as the company reported a record quarterly net profit of $18bn, well ahead of analysts’ expectations.
“Apple results beat even the highest of company or analyst expectations as the new iPhone 6 and iPhone 6 plus smartphones flew off the shelves,” said analyst Jasper Lawler from CMC Markets.
ARM’s shares were up 1.4% at 1,045.75p ahead of the close.
“Following on from last night’s jaw-dropping Apple figures, ARM Holdings, the chip maker of choice for smartphone manufacturers has received a healthy boost,” said IG’s Alastair McCaig.
Others in the technology hardware and equipment sector were also higher, including Imagination Technologies, Pace, Laird, Vislink and Sepura.
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