Arm Holdings Valuation Exceeds $54B
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 14 September 2023
⏱️ 6 minutes
🧾️ Download transcript
Summary
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Transcript
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| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:07.0 | Good morning. Today is Thursday, September 14th, and I'm your host Julie Morgan. |
| 0:12.0 | Arm Holdings prices its IPO at $51 per share. |
| 0:16.0 | France says Apple needs to pull one of its iPhones from the market |
| 0:20.0 | due to radiation concerns. |
| 0:22.0 | And Netflix says its ad tier isn't doing |
| 0:25.6 | too well just yet. Arm Holdings priced its initial public offering at |
| 0:31.0 | $51 per share arm Arm is majority owned by Soft Bank Group. |
| 0:35.6 | According to a statement, the 95.5 million share offering gives it a valuation at more than |
| 0:41.5 | $54 billion. |
| 0:43.3 | Arm is expected to debut today on the NASDAQ and trade under the symbol Arm, |
| 0:48.8 | ARM. |
| 0:49.8 | According to Bloomberg, the IPO was oversubscribed by 10 times, and CNBC reported that Taiwan |
| 0:56.4 | semiconductor, advanced micro devices, NVIDIA, Intel, Alphabet's Google, Apple, and Samsung all planned to buy 735 million dollars of the float. |
| 1:08.0 | Arm, which has nearly 6,000 full-time employees, saw revenue for the fiscal year ended in March relatively flat at |
| 1:15.2 | 2.279 billion dollars compared to 2.103 billion dollars a year earlier. |
| 1:21.6 | Net income from continuing operations for the year totaled $124 million compared to $676 million |
| 1:29.8 | in the previous period. |
| 1:31.3 | For the calendar year ended December 31st of 2022, |
| 1:35.0 | the company estimated that its total addressable market |
| 1:38.1 | was approximately $202.5 billion, |
| 1:41.4 | according to a filing. |
... |
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