On June 25, ARM Holdings rose 6.24% in pre-market trading, trading at $380.1/share, with turnover of $6.132 million. Multiple catalysts converged to drive the semiconductor sector higher.

Micron Technology reported explosive third-quarter results, with EPS surging over 12x year-over-year, revenue beating estimates by 16%, and gross margin reaching a record 84.9%. Core data center revenue hit a new high, rising 6.5x year-over-year and exceeding expectations by nearly 70%. Micron noted storage chip supply tightness would persist until at least 2028, sending its shares up 16% after hours and lifting the broader chip sector.

Separately, Qualcomm held its investor day and announced aggressive expansion into data centers, projecting $150 billion in data center revenue by fiscal 2029. Qualcomm explicitly cited ARM's underlying technology as foundational to its chip portfolio, with ARM shares noted to have risen following the announcement. UBS also raised its ARM target price to $470 from $260, maintaining a buy rating.

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