Arm holding rallies after in-line rev forecast
** Arm Holdings O9Ty.F, ARM.O shares up 5.5% on Thurs, lifted by wider tech rally and shaking off an earlier dip following the chip co's in-line qtrly rev forecast
** Stock was trading lower earlier in the session before turning higher as Nasdaq .IXIC surged 1.3% to a record high
** Arm's stock more than doubled since its IPO in Sept last year, driven by AI computing surge bets
** Arm's Q3 rev forecast of $920 mln to $970 mln aligns with analyst estimates of $944.3 mln, per LSEG, but that disappointed some investors looking for a bigger boost from AI computing
** Unlike chipmakers like Nvidia NVDA.O and Advanced Micro Devices AMD.O, Arm doesn't directly benefit from AI data center silicon sales; it provides CPU blueprints used to design chips
** Lifted by bets it will be a big winner from AI, ARM's stock up 103% YTD, outperforming many other chipmakers; AMD up 1%, Qualcomm up 20%
** ARM's forward PE ratio at ~76, in line with its one-yr avg, per LSEG
Reporting by Noel Randewich
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