BUZZ-Arm rises after report Apple to use Arm's chip design in new iPhone

Reuters09-09

** U.S.-listed shares of Arm Holdings up 3.1% at $120.98 premarket after report Apple will use Arm's chip tech for AI

** AAPL's new iPhone with its A18 chip has been developed using SoftBank -owned Arm’s newest V9 chip design, the Financial Times reported on Sat

** AAPL on Mon set to host "It's Glowtime" event at its headquarters at 1:00 p.m. ET, where it will likely unveil a series of new iPhones and updates to other devices and apps

** Arm, which signed a deal with AAPL last year that "extends beyond 2040", said in Jul its V9 chip accounts for 50% of smartphone rev

** U.S.-listed shares of Arm on Fri slid 4.7% amid broader equities selloff after payrolls report sparked investor concerns about the economy

** Through Fri, shares up 56% YTD

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@thomsonreuters.com lance.tupper@tr.com 1-646-279-6380))

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