Arm Holdings plc American is trading 10.5% down at $352.20 following a sharp reversal in semiconductor names triggered by Broadcom’s disappointing AI revenue outlook.
- The broader chip sector is facing significant pressure as investors react to guidance-related disappointment, impacting richly valued AI growth plays.
- The decline follows a period of recent volatility and profit-taking after a strong run-up in late May and early June.
- Broader tech sentiment is also being weighed down by a slide in the Nasdaq amid persistent higher-for-longer interest rate fears.