I have share on the PE vs its'

2023-09-17

I have share on the PE vs its' competitors. The share price might be over value for now.

Undoubtedly ARM dominate the smartphone market with nearly 99.9%.

Why is ARM using RISC vs x86 popular? x86 architecture is famously use in Intel based desktop and laptops for many years. However x86 cannot escape the fate of higher power consumption to achieve faster processing. RISC on the other hand resolve the issue.

Thus RSIC ARM is popular. Anyone who use handphone today will say their handphone can replace the desktop or laptop.

However ARM was bought over by Softback. Today, the floating share in the ipo is only 9.6% of the total shares of ARM. Softback hold 90.4%. Although ARM is also in NVIDIA $NVIDIA Corp(NVDA)$ The shares of ARM will not raise sharply. The valuation of this ipo is also too high.

Like any stock that collect royalty, the stocks can only move higher if the user based continue to growth like optical fiber company. Therefore don't into the wagon. The sales of the smartphone a has dips. We should wait for a while to get better price.

@Zarkness @MojoStellar @ahyi @Tiger_comments @TigerObserver

Hoo

Arm Is a Pricey Bet on AI

Arm: The Biggest IPO in 2023

The Arm IPO at the Nasdaq in New York, on Sept. 14.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

zinglee
2023-09-30
zinglee
NVIDIA to be reweighted 7.3% to 4.3%, a loss of 3 percentage points. Approx. £300 BILLION tracks the NDX globally. So, an initial loss of investment in NVDA through these funds of $9 BILLION.
bubblyx
2023-09-30
bubblyx
ZERO chance that NVDA misses earnings. 10 weeks into the 13 week QTR they revised their earnings up massively to $11 Billion +/- 2%. So earnings will come in between $11.1 to $11.2 Billion.
kookiz
2023-09-18
kookiz
NVDA is already planning the next-generation infrastructure with the leading CSPs and data center builders. AMD and other competitors haven't even figured out how to compete with NVDA's first generation products. Revenue and guidance will continue to compound quarter after quarter. Stay long and reap the rewards!!
frosti
2023-09-30
frosti
The company made several other announcements today. However, the one that got the most attention was that Cloudflare will deploy Nvidia's graphics processing units (GPUs) and ethernet switches at the edge across its global network.
cheerzy
2023-09-30
cheerzy
Does anyone think NVDA will actually miss earnings. They guided 50% higher than the street last earnings. My view is there is no incentive to guide that high unless your certain you can hit those numbers.
ColinThorndike
2023-09-18
ColinThorndike
NVDA strongest quarters are historically Q3 for growth and Q4 for revenue. I cannot see going short on this right now, with history on my side.

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The share price might be over value for now.\nUndoubtedly ARM dominate the smartphone market with nearly 99.9%.\nWhy is ARM using RISC vs x86 popular? x86 architecture is famously use in Intel based desktop and laptops for many years. However x86 cannot escape the fate of higher power consumption to achieve faster processing. RISC on the other hand resolve the issue.\nThus RSIC ARM is popular. Anyone who use handphone today will say their handphone can replace the desktop or laptop.&nbsp;\n \nHowever ARM was bought over by Softback. Today, the floating share in the ipo is only 9.6% of the total shares of ARM. Softback hold 90.4%. Although ARM is also in NVIDIA&nbsp;<a href=\"https://ttm.financial/S/NVDA\">$NVIDIA Corp(NVDA)$&nbsp;</a>The shares&nbsp; of ARM will not raise sharply. The valuation of this ipo is also&nbsp;too high.&nbsp;\n \nLike any stock that collect royalty,&nbsp; the stocks can only move higher if the user based continue to growth like optical fiber company. Therefore don't into the wagon. The sales of the smartphone a has dips. We should wait for a while to get better price.\n<a href=\"https://ttm.financial/U/3572916667219493\">@Zarkness &nbsp;</a><a href=\"https://ttm.financial/U/4098098188330620\">@MojoStellar &nbsp;</a><a href=\"https://ttm.financial/U/4107598257977800\">@ahyi &nbsp;</a><a href=\"https://ttm.financial/U/3501196737273098\">@Tiger_comments &nbsp;</a><a href=\"https://ttm.financial/U/9000000000000439\">@TigerObserver &nbsp;</a>\nHoo</body></html>","htmlText":"<html><head></head><body>I have share on the PE vs its' competitors. The share price might be over value for now.\nUndoubtedly ARM dominate the smartphone market with nearly 99.9%.\nWhy is ARM using RISC vs x86 popular? x86 architecture is famously use in Intel based desktop and laptops for many years. However x86 cannot escape the fate of higher power consumption to achieve faster processing. RISC on the other hand resolve the issue.\nThus RSIC ARM is popular. Anyone who use handphone today will say their handphone can replace the desktop or laptop.&nbsp;\n \nHowever ARM was bought over by Softback. Today, the floating share in the ipo is only 9.6% of the total shares of ARM. Softback hold 90.4%. Although ARM is also in NVIDIA&nbsp;<a href=\"https://ttm.financial/S/NVDA\">$NVIDIA Corp(NVDA)$&nbsp;</a>The shares&nbsp; of ARM will not raise sharply. The valuation of this ipo is also&nbsp;too high.&nbsp;\n \nLike any stock that collect royalty,&nbsp; the stocks can only move higher if the user based continue to growth like optical fiber company. Therefore don't into the wagon. The sales of the smartphone a has dips. We should wait for a while to get better price.\n<a href=\"https://ttm.financial/U/3572916667219493\">@Zarkness &nbsp;</a><a href=\"https://ttm.financial/U/4098098188330620\">@MojoStellar &nbsp;</a><a href=\"https://ttm.financial/U/4107598257977800\">@ahyi &nbsp;</a><a href=\"https://ttm.financial/U/3501196737273098\">@Tiger_comments &nbsp;</a><a href=\"https://ttm.financial/U/9000000000000439\">@TigerObserver &nbsp;</a>\nHoo</body></html>","text":"I have share on the PE vs its' competitors. The share price might be over value for now. Undoubtedly ARM dominate the smartphone market with nearly 99.9%. Why is ARM using RISC vs x86 popular? x86 architecture is famously use in Intel based desktop and laptops for many years. However x86 cannot escape the fate of higher power consumption to achieve faster processing. RISC on the other hand resolve the issue. Thus RSIC ARM is popular. Anyone who use handphone today will say their handphone can replace the desktop or laptop. However ARM was bought over by Softback. Today, the floating share in the ipo is only 9.6% of the total shares of ARM. Softback hold 90.4%. Although ARM is also in NVIDIA $NVIDIA Corp(NVDA)$ The shares of ARM will not raise sharply. The valuation of this ipo is also too high. Like any stock that collect royalty, the stocks can only move higher if the user based continue to growth like optical fiber company. Therefore don't into the wagon. The sales of the smartphone a has dips. We should wait for a while to get better price. @Zarkness @MojoStellar @ahyi @Tiger_comments @TigerObserver Hoo","highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":10,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/220918257209448","repostId":2367698903,"repostType":2,"repost":{"id":"2367698903","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1694831400,"share":"https://www.laohu8.com/m/news/2367698903?lang=&edition=full","pubTime":"2023-09-16 10:30","market":"us","language":"en","title":"Arm Is a Pricey Bet on AI","url":"https://stock-news.laohu8.com/highlight/detail?id=2367698903","media":"Dow Jones","summary":"It turns out that the tech IPO market isn’t dead.ILLUSTRATION BY PATRICIA DORIAIn an event that could mark a turning point for both Silicon Valley start-ups and Wall Street investment banks, Arm Holdi","content":"<html><head></head><body>It turns out that the tech IPO market isn’t dead.In an event that could mark a turning point for both Silicon Valley start-ups and Wall Street investment banks, Arm Holdings (ticker: ARM) this past week completed a highly anticipated initial public offering. The deal was a smash hit.It’s the first tech IPO of any consequence since Intel (INTC) spun off Mobileye Global (MBLY) 11 months ago—and it went as well as could be hoped. At $51, Arm shares priced at the high end of the expected range and opened 10% higher. The stock closed the week up 19% from the offering price, at $60.75. The public market is valuing Arm at $65 billion, about $10 billion below memory chip leader Micron Technology (MU), which generates 10 times as much revenue as Arm.Arm is now trading for about 25 times its most recent full year of revenue—and at more than 100 times profit. And that could be where things get tricky for the new stock. Needham analyst Charles Shi picked up coverage after the first day of trading with a Hold rating, writing that “valuation looks full.”The list of medium- and large-size tech companies trading at more than 25 times sales is short: It includes Nvidia (NVDA). And no one else.Heading into the IPO, some investors expressed concern about Arm’s soft recent financial performance. The company had revenue in the March 2023 fiscal year of $2.68 billion, down a hair from $2.70 billion the previous year. Net income was $524 million, down from $549 million.In an interview on listing day, Arm Chief Financial Officer Jason Child said that the year of flat revenue followed a year of outsize growth, when some customers accelerated licensing activity in advance of Nvidia’s then-pending acquisition of the company. Child said investors should look at Arm’s three-year average revenue growth—around 15%—as a proxy for potential growth.This was a stock market homecoming for Arm, which first came public in 1998, before being taken private by Japanese holding company SoftBank Group in 2016 for $32 billion. In early 2022, SoftBank’s deal to sell Arm to Nvidia fell through in the face of sharp regulatory objections.Arm has an unusual business model, with no true peers. Founded in 1990 as Advanced RISC Machines, Arm focuses on semiconductor designs. Chip makers license Arm’s work and then pay a small royalty for every Arm-designed chip they sell.The company generates about 45% of its revenue from the mobile phone market—99% of the world’s mobile phones include Arm-based processors. Arm’s second-largest end market is the Internet of Things, the buzzy name for network-connected gadgets. That business is about to be eclipsed in size by chip designs for cloud computing. The automotive sector is another fast-growing area for Arm.This is a volume business, and investors will want to see Arm grow its royalties per unit, particularly in mobile phones. In its March 2023 fiscal year, more than 30 billion Arm-based chips were sold, up 70% since 2016.Arm generates just six cents in revenue per device shipped, according to Child, but he notes that the figure should increase over time as more customers shift to products that use Arm’s more-advanced platforms.Much of Arm’s pricey valuation is tied to its potential attachment to artificial-intelligence trends. Child calls AI a “huge opportunity” for the company. The market has focused on training large language models, which require the kind of computing power provided by Nvidia’s graphics processors. Over time, though, Child says that more of the opportunity will be in “inference,” software that leverages those models.Child thinks a lot of that inference work will take place on the devices themselves, where Arm designs are prevalent. HP Inc. (HPQ) and Dell Technologies (DELL) have told Barron’s in recent months that they expect to launch AI-capable laptops in the months ahead.“The killer app of AI will be that you’ll love your PC again,” Dell Chief Operating Officer Jeff Clarke said in a recent interview.Child says that most laptop and phone AI workloads will be based on CPUs—central processing units—rather than Nvidia’s pricey graphical processing units. He says that Arm has been in talks with PC makers—including Dell and HP—about designing models with Arm-based processors to supplant the traditional x86-based chips from Intel and Advanced Micro Devices (AMD).But for all the AI talk, Arm’s near-term revenue is still closely tied to the smartphone market, where growth is slow. Given its rich valuation, Arm will have to quickly prove its AI chops. If it sputters, the stock could as well.Arm’s strong debut will raise hopes for two venture-backed tech IPOs due in the next few days: Maplebear, parent of the grocery delivery company Instacart, and Klaviyo, the e-commerce marketing automation software company. If those also go well, a flood of additional offerings could follow.</body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Arm Is a Pricey Bet on AI</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nArm Is a Pricey Bet on AI\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\nDow Jones \n2023-09-16 10:30\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body>It turns out that the tech IPO market isn’t dead.In an event that could mark a turning point for both Silicon Valley start-ups and Wall Street investment banks, Arm Holdings (ticker: ARM) this past week completed a highly anticipated initial public offering. The deal was a smash hit.It’s the first tech IPO of any consequence since Intel (INTC) spun off Mobileye Global (MBLY) 11 months ago—and it went as well as could be hoped. At $51, Arm shares priced at the high end of the expected range and opened 10% higher. The stock closed the week up 19% from the offering price, at $60.75. The public market is valuing Arm at $65 billion, about $10 billion below memory chip leader Micron Technology (MU), which generates 10 times as much revenue as Arm.Arm is now trading for about 25 times its most recent full year of revenue—and at more than 100 times profit. And that could be where things get tricky for the new stock. Needham analyst Charles Shi picked up coverage after the first day of trading with a Hold rating, writing that “valuation looks full.”The list of medium- and large-size tech companies trading at more than 25 times sales is short: It includes Nvidia (NVDA). And no one else.Heading into the IPO, some investors expressed concern about Arm’s soft recent financial performance. The company had revenue in the March 2023 fiscal year of $2.68 billion, down a hair from $2.70 billion the previous year. Net income was $524 million, down from $549 million.In an interview on listing day, Arm Chief Financial Officer Jason Child said that the year of flat revenue followed a year of outsize growth, when some customers accelerated licensing activity in advance of Nvidia’s then-pending acquisition of the company. Child said investors should look at Arm’s three-year average revenue growth—around 15%—as a proxy for potential growth.This was a stock market homecoming for Arm, which first came public in 1998, before being taken private by Japanese holding company SoftBank Group in 2016 for $32 billion. In early 2022, SoftBank’s deal to sell Arm to Nvidia fell through in the face of sharp regulatory objections.Arm has an unusual business model, with no true peers. Founded in 1990 as Advanced RISC Machines, Arm focuses on semiconductor designs. Chip makers license Arm’s work and then pay a small royalty for every Arm-designed chip they sell.The company generates about 45% of its revenue from the mobile phone market—99% of the world’s mobile phones include Arm-based processors. Arm’s second-largest end market is the Internet of Things, the buzzy name for network-connected gadgets. That business is about to be eclipsed in size by chip designs for cloud computing. The automotive sector is another fast-growing area for Arm.This is a volume business, and investors will want to see Arm grow its royalties per unit, particularly in mobile phones. In its March 2023 fiscal year, more than 30 billion Arm-based chips were sold, up 70% since 2016.Arm generates just six cents in revenue per device shipped, according to Child, but he notes that the figure should increase over time as more customers shift to products that use Arm’s more-advanced platforms.Much of Arm’s pricey valuation is tied to its potential attachment to artificial-intelligence trends. Child calls AI a “huge opportunity” for the company. The market has focused on training large language models, which require the kind of computing power provided by Nvidia’s graphics processors. Over time, though, Child says that more of the opportunity will be in “inference,” software that leverages those models.Child thinks a lot of that inference work will take place on the devices themselves, where Arm designs are prevalent. HP Inc. (HPQ) and Dell Technologies (DELL) have told Barron’s in recent months that they expect to launch AI-capable laptops in the months ahead.“The killer app of AI will be that you’ll love your PC again,” Dell Chief Operating Officer Jeff Clarke said in a recent interview.Child says that most laptop and phone AI workloads will be based on CPUs—central processing units—rather than Nvidia’s pricey graphical processing units. He says that Arm has been in talks with PC makers—including Dell and HP—about designing models with Arm-based processors to supplant the traditional x86-based chips from Intel and Advanced Micro Devices (AMD).But for all the AI talk, Arm’s near-term revenue is still closely tied to the smartphone market, where growth is slow. Given its rich valuation, Arm will have to quickly prove its AI chops. If it sputters, the stock could as well.Arm’s strong debut will raise hopes for two venture-backed tech IPOs due in the next few days: Maplebear, parent of the grocery delivery company Instacart, and Klaviyo, the e-commerce marketing automation software company. If those also go well, a flood of additional offerings could follow.</body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4543":"AI","BK4527":"明星科技股","LU2264538146.SGD":"Fullerton Lux Funds - Global Absolute Alpha A Acc SGD","IE0004445015.USD":"JANUS HENDERSON BALANCED \"A2\" (USD) ACC","BK4588":"碎股","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","BK4503":"景林资产持仓","LU0097036916.USD":"贝莱德美国增长A2 USD","BK4581":"高盛持仓","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","BK4573":"虚拟现实","LU1951198990.SGD":"Natixis Thematics AI & Robotics Fund H-R/A SGD-H","LU0708995401.HKD":"FRANKLIN U.S. OPPORTUNITIES \"A\" (HKD) ACC","IE0034235188.USD":"PINEBRIDGE GLOBAL FOCUS EQUITY \"A\" (USD) ACC","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","LU1951200564.SGD":"Natixis Thematics AI & Robotics Fund R/A SGD","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","BK4170":"电脑硬件、储存设备及电脑周边","LU1923623000.USD":"Natixis Thematics AI & Robotics Fund R/A USD","BK4579":"人工智能","BK4529":"IDC概念","BK4592":"伊斯兰概念","LU0109391861.USD":"富兰克林美国机遇基金A Acc","IE00BJJMRX11.SGD":"Janus Henderson Balanced A Acc SGD","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","BK4585":"ETF&股票定投概念","LU0079474960.USD":"联博美国增长基金A","LU0889565833.HKD":"FRANKLIN TECHNOLOGY \"A\" (HKD) ACC","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","BK4157":"电子设备和仪器","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","ARM":"ARM Holdings Ltd","LU0353189680.USD":"富国美国全盘成长基金Cl A Acc","BK4587":"ChatGPT概念","BK4575":"芯片概念","LU1280957306.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) INC","LU0321505868.SGD":"Schroder ISF Global Dividend Maximiser A Dis SGD","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC"},"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2367698903","content_text":"It turns out that the tech IPO market isn’t dead.In an event that could mark a turning point for both Silicon Valley start-ups and Wall Street investment banks, Arm Holdings (ticker: ARM) this past week completed a highly anticipated initial public offering. The deal was a smash hit.It’s the first tech IPO of any consequence since Intel (INTC) spun off Mobileye Global (MBLY) 11 months ago—and it went as well as could be hoped. At $51, Arm shares priced at the high end of the expected range and opened 10% higher. The stock closed the week up 19% from the offering price, at $60.75. The public market is valuing Arm at $65 billion, about $10 billion below memory chip leader Micron Technology (MU), which generates 10 times as much revenue as Arm.Arm is now trading for about 25 times its most recent full year of revenue—and at more than 100 times profit. And that could be where things get tricky for the new stock. Needham analyst Charles Shi picked up coverage after the first day of trading with a Hold rating, writing that “valuation looks full.”The list of medium- and large-size tech companies trading at more than 25 times sales is short: It includes Nvidia (NVDA). And no one else.Heading into the IPO, some investors expressed concern about Arm’s soft recent financial performance. The company had revenue in the March 2023 fiscal year of $2.68 billion, down a hair from $2.70 billion the previous year. Net income was $524 million, down from $549 million.In an interview on listing day, Arm Chief Financial Officer Jason Child said that the year of flat revenue followed a year of outsize growth, when some customers accelerated licensing activity in advance of Nvidia’s then-pending acquisition of the company. Child said investors should look at Arm’s three-year average revenue growth—around 15%—as a proxy for potential growth.This was a stock market homecoming for Arm, which first came public in 1998, before being taken private by Japanese holding company SoftBank Group in 2016 for $32 billion. In early 2022, SoftBank’s deal to sell Arm to Nvidia fell through in the face of sharp regulatory objections.Arm has an unusual business model, with no true peers. Founded in 1990 as Advanced RISC Machines, Arm focuses on semiconductor designs. Chip makers license Arm’s work and then pay a small royalty for every Arm-designed chip they sell.The company generates about 45% of its revenue from the mobile phone market—99% of the world’s mobile phones include Arm-based processors. Arm’s second-largest end market is the Internet of Things, the buzzy name for network-connected gadgets. That business is about to be eclipsed in size by chip designs for cloud computing. The automotive sector is another fast-growing area for Arm.This is a volume business, and investors will want to see Arm grow its royalties per unit, particularly in mobile phones. In its March 2023 fiscal year, more than 30 billion Arm-based chips were sold, up 70% since 2016.Arm generates just six cents in revenue per device shipped, according to Child, but he notes that the figure should increase over time as more customers shift to products that use Arm’s more-advanced platforms.Much of Arm’s pricey valuation is tied to its potential attachment to artificial-intelligence trends. Child calls AI a “huge opportunity” for the company. The market has focused on training large language models, which require the kind of computing power provided by Nvidia’s graphics processors. Over time, though, Child says that more of the opportunity will be in “inference,” software that leverages those models.Child thinks a lot of that inference work will take place on the devices themselves, where Arm designs are prevalent. HP Inc. (HPQ) and Dell Technologies (DELL) have told Barron’s in recent months that they expect to launch AI-capable laptops in the months ahead.“The killer app of AI will be that you’ll love your PC again,” Dell Chief Operating Officer Jeff Clarke said in a recent interview.Child says that most laptop and phone AI workloads will be based on CPUs—central processing units—rather than Nvidia’s pricey graphical processing units. He says that Arm has been in talks with PC makers—including Dell and HP—about designing models with Arm-based processors to supplant the traditional x86-based chips from Intel and Advanced Micro Devices (AMD).But for all the AI talk, Arm’s near-term revenue is still closely tied to the smartphone market, where growth is slow. Given its rich valuation, Arm will have to quickly prove its AI chops. If it sputters, the stock could as well.Arm’s strong debut will raise hopes for two venture-backed tech IPOs due in the next few days: Maplebear, parent of the grocery delivery company Instacart, and Klaviyo, the e-commerce marketing automation software company. If those also go well, a flood of additional offerings could follow.","news_type":1},"isVote":1,"tweetType":1,"viewCount":1002,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":["NVDA"],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":930,"xxTargetLangEnum":"ORIG"},"commentList":[{"id":225280648114304,"commentId":"225280648114304","gmtCreate":1696029765493,"gmtModify":1696029772891,"authorId":9000000000000340,"author":{"id":9000000000000340,"idStr":"9000000000000340","authorId":9000000000000340,"name":"zinglee","avatar":"https://static.tigerbbs.com/c0126a7d8aadf37410e3ec43acf556ad","vip":8,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":220918257209448,"objectIdStr":"220918257209448","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"NVIDIA to be reweighted 7.3% to 4.3%, a loss of 3 percentage points. Approx. £300 BILLION tracks the NDX globally. So, an initial loss of investment in NVDA through these funds of $9 BILLION.","text":"NVIDIA to be reweighted 7.3% to 4.3%, a loss of 3 percentage points. Approx. £300 BILLION tracks the NDX globally. So, an initial loss of investment in NVDA through these funds of $9 BILLION.","html":"NVIDIA to be reweighted 7.3% to 4.3%, a loss of 3 percentage points. Approx. £300 BILLION tracks the NDX globally. So, an initial loss of investment in NVDA through these funds of $9 BILLION.","likeSize":0,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"hot","coins":0,"score":0},{"id":225280794284160,"commentId":"225280794284160","gmtCreate":1696029801179,"gmtModify":1696029808876,"authorId":9000000000000343,"author":{"id":9000000000000343,"idStr":"9000000000000343","authorId":9000000000000343,"name":"bubblyx","avatar":"https://static.tigerbbs.com/c1c41413fd02f1b5e8685210b6b0bff0","vip":8,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":220918257209448,"objectIdStr":"220918257209448","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"ZERO chance that NVDA misses earnings. 10 weeks into the 13 week QTR they revised their earnings up massively to $11 Billion +/- 2%. So earnings will come in between $11.1 to $11.2 Billion.","text":"ZERO chance that NVDA misses earnings. 10 weeks into the 13 week QTR they revised their earnings up massively to $11 Billion +/- 2%. So earnings will come in between $11.1 to $11.2 Billion.","html":"ZERO chance that NVDA misses earnings. 10 weeks into the 13 week QTR they revised their earnings up massively to $11 Billion +/- 2%. So earnings will come in between $11.1 to $11.2 Billion.","likeSize":0,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"hot","coins":0,"score":0},{"id":221065596850200,"commentId":"221065596850200","gmtCreate":1695000740585,"gmtModify":1695000748206,"authorId":9000000000000568,"author":{"id":9000000000000568,"idStr":"9000000000000568","authorId":9000000000000568,"name":"kookiz","avatar":"https://static.tigerbbs.com/43a0aed7518f515997f95ed495391d65","vip":8,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":220918257209448,"objectIdStr":"220918257209448","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"NVDA is already planning the next-generation infrastructure with the leading CSPs and data center builders. AMD and other competitors haven't even figured out how to compete with NVDA's first generation products. Revenue and guidance will continue to compound quarter after quarter. Stay long and reap the rewards!!","text":"NVDA is already planning the next-generation infrastructure with the leading CSPs and data center builders. AMD and other competitors haven't even figured out how to compete with NVDA's first generation products. Revenue and guidance will continue to compound quarter after quarter. Stay long and reap the rewards!!","html":"NVDA is already planning the next-generation infrastructure with the leading CSPs and data center builders. AMD and other competitors haven't even figured out how to compete with NVDA's first generation products. Revenue and guidance will continue to compound quarter after quarter. Stay long and reap the rewards!!","likeSize":1,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"valid","coins":0,"score":0},{"id":225280827936896,"commentId":"225280827936896","gmtCreate":1696029809399,"gmtModify":1696029813608,"authorId":3479274802455671,"author":{"id":3479274802455671,"idStr":"3479274802455671","authorId":3479274802455671,"name":"frosti","avatar":"https://static.tigerbbs.com/8d59e7c960eef6f97257cc799768d81e","vip":8,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":220918257209448,"objectIdStr":"220918257209448","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"The company made several other announcements today. However, the one that got the most attention was that Cloudflare will deploy Nvidia's&nbsp;graphics processing units (GPUs) and ethernet switches at the edge across its global network.","text":"The company made several other announcements today. However, the one that got the most attention was that Cloudflare will deploy Nvidia's&nbsp;graphics processing units (GPUs) and ethernet switches at the edge across its global network.","html":"The company made several other announcements today. However, the one that got the most attention was that Cloudflare will deploy Nvidia's&nbsp;graphics processing units (GPUs) and ethernet switches at the edge across its global network.","likeSize":0,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"valid","coins":0,"score":0},{"id":225280281428120,"commentId":"225280281428120","gmtCreate":1696029790419,"gmtModify":1696029797748,"authorId":3479274729249414,"author":{"id":3479274729249414,"idStr":"3479274729249414","authorId":3479274729249414,"name":"cheerzy","avatar":"https://static.tigerbbs.com/ad7eae466324df873e0b817337d13f4e","vip":8,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":220918257209448,"objectIdStr":"220918257209448","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"Does anyone think NVDA will actually miss earnings. They guided 50% higher than the street last earnings. My view is there is no incentive to guide that high unless your certain you can hit those numbers.","text":"Does anyone think NVDA will actually miss earnings. They guided 50% higher than the street last earnings. My view is there is no incentive to guide that high unless your certain you can hit those numbers.","html":"Does anyone think NVDA will actually miss earnings. They guided 50% higher than the street last earnings. My view is there is no incentive to guide that high unless your certain you can hit those numbers.","likeSize":0,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"valid","coins":0,"score":0},{"id":221066157395992,"commentId":"221066157395992","gmtCreate":1695000877440,"gmtModify":1695000885559,"authorId":9000000000000648,"author":{"id":9000000000000648,"idStr":"9000000000000648","authorId":9000000000000648,"name":"ColinThorndike","avatar":"https://static.tigerbbs.com/8e83e48989b3401bb5773e10a7c62208","vip":8,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":220918257209448,"objectIdStr":"220918257209448","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"NVDA strongest quarters are historically Q3 for growth and Q4 for revenue. I cannot see going short on this right now, with history on my side. ","text":"NVDA strongest quarters are historically Q3 for growth and Q4 for revenue. I cannot see going short on this right now, with history on my side. ","html":"NVDA strongest quarters are historically Q3 for growth and Q4 for revenue. I cannot see going short on this right now, with history on my side. ","likeSize":0,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"valid","coins":0,"score":0}],"isCommentEnd":false,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/220918257209448"}