To counter Apple not reaching (the albeit high) expectations of analysts – See Eurozone woes hit Apple – ARM, which supplies most of the chips for Apple products, exceeded expectations. PBT rose 23% to £66.5m on sales of £135.5m – comfortably ahead of expectations. Outlook good too. ‘ARM enters the second half of 2012 with a record order backlog and a robust opportunity pipeline”.
Shares up nearly 3% in early trading.
Note – I’m a shareholder in ARM too.