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U.S. shares of ARM Holdings, the designer of low-power chips used in smartphones, tablets and other devices, recovered some ground Wednesday as investors reconsidered the company’s prospects after its fourth-quarter report Tuesday. Wall Street was spooked by ARM ‘s (ARMH) report of slowing growth of the high-end smartphone market. Its stock tumbled nearly 11%, but retraced its steps, ending Tuesday down 4% to 43.80. On Wednesday, ARM’s U.S. shares rose 1.5% to 44.44. Antonio Viana, president of ARM’s commercial and global development, said investors need to look at ARM’s overall smartphone business, not just the premium handset segment, which is dominated by players like Apple (AAPL) and Samsung. “The sex appeal is definitely on the premium smartphone side and that’s what garners a lot of attention,” Viana told IBD. “From our vantage point, however, even if premium smartphones grow at a rate of 5% instead of 8%, we still look at… Scalper1 News
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