ARM shares skyrocket after fresh Apple buyout rumours

Apple may buy semiconductor firm ARM, according to recent rumours, sending ARM’s shares skyrocketing.

ARM already has a close relationship with Apple, producing the semiconductors for the iPhone, but speculation has been growing that Apple may want a bigger bite.

TechEye spoke to ARM’s president, Tudor Brown, last week at Computex and he denied the rumours, saying that it was difficult to imagine because ARM is an IP company and has over 600 other partners.

That’s not stopping the stock market, however. As of 12:40pm GMT, ARM’s shares were up by 32 pence, to 306 pence. That’s an increase of 11.68 percent. Just before 11:00am GMT, ARM’s shares had spiked to a whopping 362 pence, an increase of 88 pence or nearly 25 percent. It has since slumped to its current value, but that’s still a sizeable increase over previous days and weeks.

The rumours first surfaced back in April, but ARM has been forging ahead with a number of new projects, including a new company. While Brown has denied the takeover speculation, however, it’s clear that the stockholders realise that it’s not the first time someone has denied something, only for it to happen after all.