Arm shares soar after reporting strong earnings and forecast

Arm CEO Rene Haas and executives cheer as Softbank's Arm, a chip design firm, holds an initial public offering at the Nasdaq MarketSite in New York, Sept. 14, 2023.Shares of chip designer Arm climbed almost 30% in extended trading Thursday morning after the company reported better-than-expected earnings Wednesday and a strong profit forecast for the current quarter. Shares were up as much as 41% in trading after the bell Wednesday.Arm's chip design technology is in most smartphones and many PCs. The company ...