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ARM's share price takes a hammering

Cambridge based UK chip designer ARM Holdings saw its shares slide 10 per cent this morning to 230p - knocking 26p off its previous price.
Written by Suzanna Kerridge, Contributor

Cambridge based UK chip designer ARM Holdings saw its shares slide 10 per cent this morning to 230p - knocking 26p off its previous price.

The drop has been attributed to negative comments in the press over the weekend and speculation regarding the company's results, due out this week Analysts claim the company is overvalued and predict its diversification away from designing chips for mobile phones might not help its profit growth. ARM Holdings, the biggest FTSE 100 loser this morning, will publish its first quarter earnings on Wednesday.
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