Technology stocks were rising premarket Wednesday, with the State Street Technology Select Sector SPDR Fund (XLK) up 0.8% and the State Street SPDR S&P Semiconductor ETF (XSD) up 0.9%.
Arm (ARM) expects "material revenue" from its first in-house chip starting in 2028, with "an exponential ramp" to roughly $15 billion in 2031, Chief Financial Officer Jason Child said, according to a FactSet transcript. Shares of ARM were up more than 11% pre-bell.
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