UK chip designer ARM hits a high after iPhone 6 boost

A RISING TIDE LIFTS ALL BOATS: Shares in the Cambridge-based company rose to an all-time high thanks to demand for the iPhone 6 smartphones, which use ARM chips.

LONDON: ARM Holdings, the British chip designer favoured by Apple, beat expectations for first-quarter profit thanks to demand for the iPhone 6, and said its royalties would grow as its latest technology is used in more smartphones. 

Shares in the Cambridge-based company rose to an all-time high of £12.33 (RM66.80) after it posted a 24% rise in first-quarter pretax profit to £120.5mil (RM653.19mil).