Investors in the Blighty chip outfit ARM appear to be flogging their shares because they fear the outfit is overvalued.
However yesterday the value of the company stock fell 8.4 per cent, which is the sharpest fall in the last five months.
Analysts have been saying that the stock may be too expensive and its belief that sales of some tablet computers will make it a real killing might not stand up to reality.
James Crawshaw, an analyst at Standard & Poor’s Equity Research said that the stock was overvalued. Shares had been pushed up too far and now the bubble is ready to burst.
ARM’s shares have risen by 151 percent in the past year and was double the next best performance in the MSCI World Information Technology Index.
ARM can’t really hope that stonking sales from Jobs’ Mob will pull its nadgers out of the fire either. For it to keep its current value, all of Apple’s rivals will also have to do very well. At the moment it looks like they cannot arrange a piss-up in a brewery.