Arm Holdings plc architects, develops, and licenses central processing unit products and related technologies for semiconductor companies and original equipment manufacturers rely on to develop products. The company is involved in the licensing, marketing, research, and development of microprocessors, systems intellectual property (IPs), graphics processing units, physical IP and associated systems IPs, software, tools, and other related services. It also offers system IP products, including memory controller IP, interconnect IP, and other on-chip peripheral components; and compute platforms for a range of devices and applications. The company's products are used in various markets, such as automotive, computing infrastructure, consumer technologies, and Internet of things. It operates in the United States, the People's Republic of China, Taiwan, the Republic of Korea, and internationally. The company was founded in 1990 and is headquartered in Cambridge, the United Kingdom. Arm Holdings plc operates as a subsidiary of Kronos II LLC.

Arm Holdings plc

Средний индекс, значительно упал. Быки в растерянности.

Medium index, significantly down. The bulls are confused.

Слабый индекс, значительно вырос. Рынок на стороне быков.

Weak index, significantly up. The market is on the bulls' side.

Слабый индекс, значительно вырос. Увеличился приток средств в лонги.

Weak index, significantly up. The inflow of funds into longs has increased.

The S&P 500 Index ($SPX) (SPY) closed down by -1.09% on Friday, the Dow Jones Industrial Average ($DOWI) (DIA) closed down by -0.34%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -2.50%. December E-mini S&P futures (ESZ26) fell -1.14%, and December E-mini Nasdaq futures (NQZ26) fell -2.51%.
Stock indexes sold off sharply on Friday, with the S&P 500 falling to a 2-week low and the Nasdaq 100 dropping to a 1-month low. Selling in chipmakers and AI-infrastructure stocks led the market lower on Friday, driven by concerns about whether companies will see returns on their huge investments in the AI infrastructure buildout. Also, CoreWeave sank more than -11% to weigh on cloud infrastructure stocks as concerns about the company’s credit risk linger.
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Stock losses accelerated Friday afternoon as crude oil prices soared more than 3% to a 1-month high, raising inflation expectations and fueling fears the Fed will keep raising interest rates to contain inflation.
Higher bond yields undercut stocks after Fed Chair Warsh made no remarks on monetary policy or his outlook for the US economy late Thursday evening at the IMF annual meeting in Bangkok. The 10-year T-note yield rose +1 bp to 5.09%.
Friday’s US economic news was mixed for stocks. The Sep import price index ex-petroleum rose +0.8% m/m, stronger than expectations of +0.6% m/m, the largest increase in 5 months and a sign of price pressures. However, Sep manufacturing production rose +0.3% m/m, right on expectations.
Stocks have support from the prospect of solid quarterly earnings results that began this week. Goldman Sachs on Monday raised its three-month view on global equity markets to overweight from neutral, saying. “Earnings growth remains supportive for equities and the recent valuation de-rating has improved asymmetry into the third-quarter earnings season.” According to data compiled by Bloomberg Intelligence, Q3 S&P 500 earnings are expected to climb by +25% from a year earlier, up from a July estimate of 22%. As of Friday, 40 of the S&P 500 companies have reported results, with 78% beating estimates.
Nov WTI crude oil prices (CLX26) surged more than +3% on Friday to a 1-month high. Crude prices rallied on Friday amid a weaker dollar and concerns that escalating Middle East hostilities could disrupt regional energy supplies. Prices race to their highs Friday afternoon after US lawmakers introduced a bill to block President Trump’s deal with Russia to release several hundred million barrels of diesel fuel.
Markets are discounting a 17% chance of a +25 bp Fed rate hike at the next FOMC meeting on October 27-28.
Overseas stock markets settled higher on Friday. The Euro Stoxx 50 closed up +0.58%. China's Shanghai Composite closed up +0.24%. Japan's Nikkei-225 Stock Average closed up +1.39%.
Interest Rates
December 10-year T-notes (ZNZ6) closed down -2.5 ticks on Friday. The 10-year T-note yield rose +2.7 bp to 5.085%. Dec T-notes were under pressure Friday after Fed Chair Warsh's lack of guidance at the annual IMF meeting in Bangkok weighed on T-notes. Also, Friday’s +3% surge in WTI crude oil to a 1-month high raised inflation expectations and weighed on T-notes. Friday’s stock plunge sparked safe-haven buying of government debt and limited T-note losses.
European government bond yields were mixed on Friday. The 10-year German bund yield rose +1.3 bp to 3.426%. The 10-year UK gilt yield fell -0.2 bp to 5.373%.
ECB Governing Council member and Bundesbank President Joachim Nagel said. "The ECB has raised interest rates twice, and if the situation remains as it is, we don't rule out the possibility that we may have to take further action."
Markets are discounting a 10% chance of a +25 bp ECB rate hike at the ECB’s next meeting on October 29.
US Stock Movers
Chipmakers and AI-infrastructure stocks continued their week-long slide on Friday, weighing on the broader market. Seagate Technology Holdings Plc (STX) closed down more than -7%, and Western Digital (WDC), SanDisk (SNDK), and ARM Holdings Plc (ARM) closed down more than -6%. Also, Advanced Micro Devices (AMD), Micron Technology (MU), Intel (INTC), and Marvell Technology (MRVL) closed down more than -5%, and Lam Research (LRCX), KLA Corp (KLAC), Applied Materials (AMAT), and Broadcom (AVGO) closed down more than -4%. In addition,
CoreWeave (CRWV) closed down more than -11% to weigh on cloud infrastructure stocks as debt concerns linger after swaps priced in more than a 50% chance the company will default on its debt within five years. Also, Nebius Group NV (NBIS) closed down more than -12% to lead losers in the Nasdaq 100, and Applied Digital (APLD) closed down more than -11%. In addition, Lumentum Holdings (LITE) closed down more than -5%, and Oracle (ORCL) and Arista Networks (ANET) closed down more than -4%.
The Magnificent Seven stocks, excluding Apple, fell on Friday and weighed on the overall market. Meta Platforms (META) closed down more than -3%, and Alphabet (GOOGL) closed down more than -2% to lead losers in the Dow Jones Industrials. Also, Tesla (TSLA) closed down more than -2%, and Amazon.com (AMZN), Microsoft (MSFT), and Nvidia (NVDA) closed down more than -1%. Apple (AAPL) bucked the trend and closed up +0.43%.
Cybersecurity stocks retreated on Friday. Okta (OKTA) closed down more than -10%, and SentinelOne (S), Fortinet (FTNT), Crowdstrike Holdings (CRWD), and Palo Alto Networks (PANW) closed down more than -7%. Also, Cloudflare (NET) closed down more than -6%, Zscaler (ZS) closed down more than -5%, and Gen Digital (GEN) closed down more than -2%.
Energy producers and service providers rallied on Friday after WTI crude oil rose more than +3% to a 1-month high. APA Corp (APA) closed up more than +4%, and Diamondback Energy (FANG) closed up more than +4% to lead gainers in the Nasdaq 100. Also, ConocoPhillips (COP) and Devon Energy (DVN) closed up more than +3%, and Chevron (CVX) closed up more than +2% to lead gainers in the Dow Jones industrials. In addition, Baker Hughes (BKR), ExxonMobil Holdings (XOM), Occidental Petroleum (OXY), and SLB Ltd (SLB) closed up more than +2%, and Halliburton (HAL) and Phillips 66 (PSX) closed up more than +1%.
Defense contractors rose on Friday as the companies are set to benefit from increased defense spending. Northrop Grumman (NOC) closed up more than +4%, and Lockheed Martin (LMT), RTX Corp (RTX), and L3Harris Technologies (LHX) closed up more than +3%. Also, General Dynamics (GD) closed up more than +2%, and Huntington Ingalls Industries (HII) closed up more than +1%.
Defensive food producers moved higher on Friday amid the slump in the broader market. Kraft Heinz Co (KHC), McCormick & Co (MKC), J M Smucker (SJM), Hershey Co (HSY), Hormel Foods (HRL), and Mondelez International (MDLZ) closed up more than +1%.
Omeros (OMER) closed down more than -14% after the European Medicines Agency issued a negative opinion on the company’s application for its narsoplimab therapy.
Earnings Reports (10/19/2026)
AGNC Investment Corp (AGNC), BOK Financial Corp (BOKF), Cleveland-Cliffs Inc (CLF), Crown Holdings Inc (CCK), Fifth Third Bancorp (FITB), FNB Corp/PA (FNB), RLI Corp (RLI), Steel Dynamics Inc (STLD), W R Berkley Corp (WRB), Western Alliance Bancorp (WAL), Wintrust Financial Corp (WTFC), Zions Bancorp NA (ZION).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

Stock Indexes Finish Sharply Lower as Tech Stocks Plunge

The S&P 500 Index ($SPX) (SPY) is down by -0.07% today, the Dow Jones Industrial Average ($DOWI) (DIA) is up by +0.42%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.69%. December E-mini S&P futures (ESZ26) are down -0.05%, and December E-mini Nasdaq futures (NQZ26) are down -0.65%.
Stock indexes are mixed today, with the Dow Jones Industrials posting a 2.5-week high. The broader market is under pressure from higher crude oil prices, with WTI crude up more than +2% today on concerns about escalating tensions in the Middle East after repeated Houthi attacks on Saudi Arabia from neighboring Yemen. Weakness in chipmakers and AI-infrastructure stocks is also weighing on the overall market today.
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Stocks have support from the prospect of solid quarterly earnings results that will begin this week. Goldman Sachs today raised its three-month view on global equity markets to overweight from neutral, saying. “Earnings growth remains supportive for equities and the recent valuation de-rating has improved asymmetry into the third-quarter earnings season.” Also, strength in software stocks and energy producers is supportive of the overall market.
Market activity may be below normal, as the cash Treasury market is closed today for the Columbus Day bank holiday.
According to data compiled by Bloomberg Intelligence, Q3 S&P 500 profits are expected to climb by +25% from a year earlier, up from a July estimate of 22%. Q3 earnings season begins this week when US money center banks report.
Nov WTI crude oil prices (CLX26) are up more than +2% today after Iran-backed Houthi rebels in Yemen launched drone and missile attacks against Saudi Arabia over the weekend, raising the risk of escalation that could draw the US into the conflict. Also, there's been a recent escalation of drone and missile attacks against vessels traversing the Strait of Hormuz, limiting energy exports from the region. Limiting gains in crude are the prospects of Russia releasing diesel supplies into theglobal marketafter the US Treasury issued a waiver for previously sanctioned Russian fuel. Last Friday, Russia said it will partially lift its ban on diesel exports, allowing 500,000 MT of diesel fuel to reach international markets following an agreement between Russian President Putin and US President Trump.
Markets are discounting a 19% chance of a +25 bp Fed rate hike at the next FOMC meeting on October 27-28.
Overseas stock markets are mixed today. The Euro Stoxx 50 is up +0.44%. China's Shanghai Composite closed down -0.43%. Japan's Nikkei-225 Stock Average did not trade, as Japanese markets were closed today for the Health Sports Day holiday.
Interest Rates
December 10-year T-notes (ZNZ6) are down by -2.5 ticks today. The 10-year T-note yield is not trading today, as the cash Treasury market is closed for the Columbus Day bank holiday. Dec T-notes are under pressure today as higher crude oil prices raise inflation expectations.
European government bond yields are mixed today. The 10-year German bund yield is down -0.5 bp to 3.476%. The 10-year UK gilt yield is up +0.1 bp to 5.444%.
ECB Governing Council member Yannis Stournaras said the ECB may raise interest rates again to curb inflation but without rushing any action, suggesting an ECB rate hike this month is less likely than one in December.
Markets are discounting a 13% chance of a +25 bp ECB rate hike at the ECB’s next meeting on October 29.
US Stock Movers
Chipmakers and AI-infrastructure stocks are sliding today, weighing on the overall market. Lumentum Holdings (LITE) is down more than -7% to lead losers in the S&P 50 and Nasdaq 100, and Sandisk (SNDK) is down more than -6%. Also, Micron Technology (MU) and Marvell Technology (MRVL) are down more than -4%, and Advanced Micro Devices (AMD), ARM Holdings (ARM), Intel (INTC), and Seagate Technology Holdings Plc (STX) are down more than 3-%. In addition, Lam Research (LRCX), KLA Corp (KLAC), Microchip Technology (MCHP), and Western Digital (WDC) are down more than -2%, and Applied Materials (AMAT), Broadcom (AVGO), and Qualcomm (QCOM) are down more than -1%.
Software stocks are climbing today, led by a +2% jump in Salesforce (CRM) to lead gainers in the Dow Jones Industrials after Bank of America Global Research double-upgraded the stock to buy from underperform with a price target of $285. Also, Workday (WDAY) is up more than +2%, and ServiceNow (NOW), Intuit (INTU), and Microsoft (MSFT) are up more than +1%.
Energy producers and service providers are moving higher today, with WTI crude oil up more than +2%. Diamondback Energy (FANG) is up more than +2%, and APA Corp (APA), Chevron (CVX), ConocoPhillips (COP), Devon Energy (DVN), ExxonMobil Holdings (XOM), and Occidental Petroleum (OXY) are up more than +1%.
IonQ (IONQ) is down more than -8% after agreeing to buy Elisity Inc. for as much as $1.3 billion in an all-stock transaction.
Chipotle Mexican Grill (CMG) is down more than -4% after Starbucks said it has no plans to acquire the company.
Enact Holdings (ACT) is down more than -1% after JPMorgan Chase downgraded the stock to underweight from neutral with a price target of $44.
Adobe (ADBE) is down more than -1% after Wells Fargo Securities double-downgraded the stock to underweight from overweight with a price target of $225.
First Tracks Biotherapeutics (TRAX) is up more than +6% after reporting topline results from an early-stage trial of its experimental therapy for celiac disease.
AST SpaceMobile (ASTS) is up more than +4% after Deutsche Bank upgraded the stock to buy from hold with a price target of $93.
Biogen (BIIB) is up more than +3% after JPMorgan Chase upgraded the stock to overweight from neutral, with a price target of $300.
Earnings Reports (10/12/2026)
Liberty Live Holdings Inc (LLYVA) and SR Bancorp Inc (SRBK).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

Stocks Pressured by Rising Crude Prices and Chipmaker Weakness

Key Points
Astera Labs specializes in high-speed connectivity solutions specifically designed for high-performance artificial intelligence infrastructure.
Arm provides the foundational architecture used in almost every smartphone and an increasing number of energy-efficient data center processors.
Which semiconductor stock deserves a spot in your portfolio?
The race for artificial intelligence dominance relies on both high-speed connectivity and efficient processing. Deciding whether to buy Astera Labs (NASDAQ:ALAB) or Arm (NASDAQ:ARM) depends on your appetite for growth versus stability.
Astera Labs provides specialized hardware that clears data bottlenecks in AI servers. Arm licenses the foundational blueprints used by almost every chip designer on the planet. While both benefit from the expansion of cloud computing, they offer vastly different financial profiles and risk levels for investors looking at the current landscape.
The case for Astera Labs
Astera Labs provides rack-scale connectivity solutions specifically designed for high-performance artificial intelligence infrastructure. As cloud providers expand their data center infrastructure, demand for specialized semiconductor stocks has intensified. The company serves major hyperscalers, but one end customer accounted for 70% of revenue in 2025, and customer concentration like this adds a layer of risk to the business.
According to its latest annual report, filed for the fiscal year ended Dec. 31, 2025, revenue reached $852.5 million, representing growth of 115.1% year over year. The company reported net income of $219.1 million. This result marked a significant improvement compared with the net loss reported in the prior fiscal year.
As of its December 2025 balance sheet, the current ratio is 10.2x, measuring the ability to cover short-term debts with short-term assets. Debt-to-equity is 0.0x, indicating that the company carries virtually no debt relative to shareholder equity. Note that stock-based compensation represented roughly 50.1% of operating cash flow, which inflates reported cash generation since SBC is a non-cash expense added back in the cash flow statement.
The case for Arm
Arm develops essential compute platforms and licenses its processor architecture to chip designers across the globe. As the digital world shifts toward more energy-efficient computing, the company's instruction set has become a global standard for everything from smartphones to servers. Its business model relies on charging royalties and licensing fees for every chip that uses its proprietary designs.
According to its latest annual report, filed for the fiscal year ended March 31, 2026, revenue reached $4.9 billion, a 22.8% increase compared with the prior fiscal year. Net income reached $904.0 million. Net margin, which shows the percentage of revenue turned into profit, was 18.4%.
As of its March 2026 balance sheet, the current ratio is 6.0x. Debt-to-equity is 0.1x, indicating that total debt is a small fraction of shareholder equity. Note that stock-based compensation represented roughly 69% of operating cash flow, which inflates reported cash generation since SBC is a non-cash expense added back in the cash flow statement.
Risk profile comparison
Astera Labs faces significant risk from revenue concentration, as 86% of sales come from just three customers. The company also deals with intense competition from established giants like Broadcom (NASDAQ:AVGO) and Marvell Technology (NASDAQ:MRVL). Furthermore, its reliance on Taiwan Semiconductor Manufacturing (NYSE:TSM) makes it vulnerable to geopolitical instability and supply chain disruptions in East Asia.
Arm depends heavily on the continued dominance of its instruction set architecture. While it is expanding in the data center, it faces potential competition from open-source alternatives and internal designs from large cloud providers. Any shift in the licensing landscape or a slowdown in the mobile hardware market could negatively impact its royalty revenue streams.
Valuation comparison
Arm carries a significantly higher Forward P/E based on future earnings estimates than its peer, while the P/S ratio, which measures market value against sales over the past twelve months, also favors Astera Labs.
Forward P/E
89.4x
131.1x
P/S ratio
50.9x
60.5x
Valuation metrics include sourcing from Financial Modeling Prep (FMP) and may differ from other data providers.
Which stock would I buy in 2026?
I'd go with Astera Labs. The company has strung together one of the most impressive growth streaks in the semiconductor industry, with revenue approaching or exceeding triple digits for several consecutive quarters, gross margins above 70%, and guidance pointing to more than 85% revenue growth for the full year. Its connectivity chips are becoming essential inside the AI data centers being built by every major hyperscaler, and demand keeps outpacing expectations.
Arm has built a remarkable business model in its own right, with it architecture powering virtually every smartphone. Royalty revenue more than doubled in the data center segment, and the business compounds reliably without depending on any single product cycle. For investors who value consistency over acceleration, it is a strong long-term hold.
Customer concentration is the one risk worth watching at Astera. A handful of hyperscalers drive most of its revenue, and that makes the business sensitive to any shift in those relationships. But the demand behind those relationships keeps growing. For an investor comfortable with that trade-off, Astera's growth trajectory is simply in a different league right now.
Should you buy stock in Astera Labs right now?
Before you buy stock in Astera Labs, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Astera Labs wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $361,650!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,437,517!*
Now, it’s worth noting Stock Advisor’s total average return is 936% — a market-crushing outperformance compared to 213% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of October 4, 2026.
Sara Appino has positions in Taiwan Semiconductor Manufacturing. The Motley Fool has positions in and recommends Arm Holdings, Broadcom, Marvell Technology, and Taiwan Semiconductor Manufacturing. The Motley Fool recommends Astera Labs. The Motley Fool has a disclosure policy.

Astera Labs vs. Arm: Which Semiconductor Stock Is a Better Buy in 2026?

Key Points
Advanced Micro Devices continues to expand its data center footprint with high-performance AI accelerators and new multiyear infrastructure partnerships.
Arm maintains a dominant market position by licensing its energy-efficient architecture, which powers nearly all of the world's smartphones.
Which semiconductor stock deserves a spot in your portfolio?
Semiconductors power the modern digital world, but choosing between chip designers requires looking under the hood. You might consider whether Advanced Micro Devices (NASDAQ:AMD) or Arm (NASDAQ:ARM) is the better investment today.
Advanced Micro Devices designs high-performance processors and graphics cards for everything from data centers to gaming consoles. Arm focuses on licensing its energy-efficient architecture, which powers nearly every smartphone on earth. Both companies are central to the hardware that runs artificial intelligence.
The case for Advanced Micro Devices
Advanced Micro Devices designs high-performance and adaptive computing products, including AI accelerators and graphics processors. The company serves data center, gaming, and PC markets through its diverse hardware portfolio. In its latest annual report, the company highlighted a major multiyear product purchase agreement with OpenAI to deploy its MI450 series GPUs. The company also supplies processors and networking solutions to a broad base of enterprise and cloud partners within the semiconductor stocks category.
In the fiscal year ended Dec. 27, 2025, revenue reached nearly $34.6 billion, representing a significant 34.3% increase compared with the prior fiscal year. This growth reflects strong demand for AI-optimized hardware and data center infrastructure. The company reported net income of approximately $4.3 billion, a substantial improvement over the $1.6 billion in net income recorded in the previous year.
As of its December 2025 balance sheet, the company maintains a current ratio of roughly 2.9x, indicating its ability to cover short-term bills with short-term assets. Its debt-to-equity ratio is approximately 0.1x, meaning the company uses very little debt relative to its shareholder equity. Note that stock-based compensation represented roughly 21.2% of operating cash flow, which inflates reported cash generation since SBC is a non-cash expense added back in the cash flow statement.
The case for Arm
Arm operates a unique business model by developing and licensing its CPU architecture to other semiconductor companies. Rather than manufacturing chips, the company earns revenue through licensing fees and royalties on every chip sold that uses its designs. Its technology is ubiquitous, powering over 99% of the global smartphone market and finding its way into more than 350 billion chips to date. The company is now aggressively targeting the cloud AI and autonomous machines markets to diversify its revenue.
In the fiscal year ended March 31, 2026, revenue reached approximately $4.9 billion, a 22.8% increase compared with the prior fiscal year. This growth is driven by the transition to more advanced architectures that command higher royalty rates per chip. The company generated net income of nearly $904.0 million during this fiscal period, up from approximately $792.0 million in the prior year.
According to its March 2026 balance sheet, Arm has a current ratio of roughly 6.0x, which shows its ability to pay short-term debts with short-term assets. Its debt-to-equity ratio sits at approximately 0.1x, meaning total debt is a small fraction of its shareholder equity. Note that stock-based compensation represented roughly 70% of operating cash flow, which inflates reported cash generation since SBC is a non-cash expense added back in the cash flow statement.
Risk profile comparison
Advanced Micro Devices faces intense competition and cyclical demand in the semiconductor market, often dealing with aggressive pricing from rivals like Intel (NASDAQ:INTC) and Nvidia (NASDAQ:NVDA). Government export restrictions on advanced chips to China also pose a threat to future revenue growth and inventory management. Furthermore, the company relies heavily on third-party foundries for manufacturing, which exposes it to potential supply chain disruptions or geopolitical tensions.
Arm carries risks related to its high concentration in the smartphone market, where a slowdown in global consumer spending could directly impact royalty revenue. The company also faces potential competition from open-source alternatives, which could offer license-free designs to cost-conscious chipmakers. Additionally, its growth strategy depends heavily on the rapid adoption of its latest v9 architecture, and any delays in customer migration could slow its financial progress.
Valuation comparison
Advanced Micro Devices trades at a lower multiple of both sales and future earnings estimates compared to the premium valuation of Arm.
Metric
Advanced Micro Devices
Arm
Forward P/E
82.6x
140.1x
P/S ratio
24.9x
64.7x
Valuation metrics sourced from Financial Modeling Prep (FMP) and may differ from other data providers.
Which stock would I buy in 2026?
I'd go with AMD. The company is cementing its position as the primary alternative to Nvidia in the AI chip market, and that's a powerful place to be. And it's putting up remarkable numbers: Its data center business has more than doubled year over year, and the company has posted six consecutive quarters of growth above 30%. A partnership with Anthropic to deploy a massive GPU cluster shows that the companies building the most advanced AI systems are betting on AMD to power them.
Arm deserves credit for building one of the more durable business models in semiconductors. Its chip architecture powers virtually every smartphone, and its royalty revenue keeps arriving whether the broader chip market is booming or cooling. The data center segment has become an important new growth driver on top of that already stable foundation. For investors who value consistency over acceleration, it is an undeniably attractive business.
But AMD is competing directly for the biggest prize in semiconductors, and the results keep arriving on schedule. That's the kind of momentum I want to own right now.
Should you buy stock in Advanced Micro Devices right now?
Before you buy stock in Advanced Micro Devices, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Advanced Micro Devices wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $379,123!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,396,103!*
Now, it’s worth noting Stock Advisor’s total average return is 933% — a market-crushing outperformance compared to 212% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of September 30, 2026.
Sara Appino has positions in Nvidia. The Motley Fool has positions in and recommends Advanced Micro Devices, Arm Holdings, Intel, and Nvidia. The Motley Fool has a disclosure policy.

Advanced Micro Devices vs. Arm: Which Tech Stock Is a Better Buy in 2026?

The S&P 500 Index ($SPX) (SPY) closed down by -0.17% on Tuesday, the Dow Jones Industrial Average ($DOWI) (DIA) closed down by -0.26%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.21%. December E-mini S&P futures (ESZ26) fell -0.15%, and December E-mini Nasdaq futures (NQZ26) rose +0.21%.
Stock indexes settled mixed on Tuesday. The broader market was under pressure Tuesday as soaring bond yields pushed the 10-year T-note yield to a new 19-year high of 5.29%. Weaker-than-expected US economic news also weighed on stocks after Aug JOLTS job openings fell to a 5-month low, and Sep consumer confidence tumbled to a 12-year low.
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However, stock losses were limited after a -3% plunge in WTI crude oil prices eased inflation risks and knocked bond yields from their highs. Strength in chipmakers on Tuesday also helped the overall market. In addition, dovish comments from New York Fed President Williams on Tuesday reduced the chance of a Fed rate hike next month to 52% from 70% when he said the Fed needs only one more rate hike to contain inflation.
The July S&P composite-20 home price index rose +0.3% m/m and +2.47% y/y, stronger than expectations of +0.2% m/m and +2.20% y/y, with the +2.47% y/y gain the largest year-on-year increase in 14 months.
US Aug JOLTS job openings fell -256,000 to a 5-month low of 7.079 million, weaker than expectations of 7.228 million.
The Conference Board US Sep consumer confidence index fell -6.7 to a 12-year low of 81.9, weaker than expectations of 89.0.
New York Fed President John Williams said, "If the economy evolves in a manner broadly consistent with my forecast, one further upward adjustment of the federal funds target range may be appropriate late this year to support a timelier return of inflation to target."
Nov WTI crude oil prices (CLX26) dropped more than -3% on Tuesday as signs of larger oil exports from Saudi Arabia are bearish for prices. Tracking data compiled by Bloomberg show Saudi Arabia's crude exports stood at 5.28 million bpd in September, the highest in seven months. Saudi Arabia also said it restored about 3.5 million bpd of the East-West Pipeline's 7 million bpd capacity on Monday after repairs restored the link damaged by drone strikes earlier this month.
Markets are discounting a 52% chance of a +25 bp Fed rate hike at the next FOMC meeting on October 27-28.
Overseas stock markets settled mixed on Tuesday. The Euro Stoxx 50 rose to a 2.5-week high and closed up +0.30%. China's Shanghai Composite closed up +0.18%. Japan's Nikkei-225 Stock Average closed down -0.60%.
Interest Rates
December 10-year T-notes (ZNZ6) closed down -2 ticks on Tuesday. The 10-year T-note yield rose +1.9 bp to 5.255%. Dec T-notes sank to a 19-year nearest-futures low on Tuesday, and the 10-year T-note yield climbed to a 19-year high of 5.291%. Supply pressures weighed on T-notes Tuesday after Paramount Skydance announced it was offering $32 billion of corporate debt in eight tranches, prompting bond dealers to short T-notes to hedge against the incoming supply.
Losses in T-notes were limited on Tuesday amid weaker-than-expected US economic news on Aug JOLTS job openings and Sep consumer confidence. T-notes recovered most of their losses on Tuesday after WTI crude oil prices fell more than 3%, easing inflation expectations. Also, dovish comments from New York Fed President John Williams supported T-notes when he said he sees only one more Fed rate hike needed to contain inflation.
European government bond yields moved lower on Tuesday. The 10-year German bund yield fell -1.7 bp to 3.626%. The 10-year UK gilt yield fell -1.2 bp to 5.410%.
The Eurozone Sep economic confidence indicator unexpectedly fell -0.5 to 97.9, weaker than expectations of an increase to 99.0.
Spain Sep CPI (EU harmonized) rose +5.0% y/y, stronger than expectations of +4.9% y/y and the largest increase in 3.5 years. Sep core CPI rose +3.1% y/y, stronger than expectations of +3.0% y/y.
Markets are discounting a 32% chance of a +25 bp ECB rate hike at the ECB’s next meeting on October 29.
US Stock Movers
Chipmakers and AI stocks moved higher on Tuesday, a supportive factor for the broader market. The iShares Semiconductor ETF (SOXX)climbed to a 2.5-month high and closed up more than +1%. Applied Materials (AMAT) closed up more than +5%, and Marvell Technology (MRVL) closed up more than +4%. Also, ARM Holdings Plc (ARM), KLA Corp (KLAC), and ASML Holding NV (ASML) closed up more than +3%. In addition, Lam Research (LRCX) closed up more than +2%, and Microchip Technology (MCHP), Micron Technology (MU), Broadcom (AVGO), and Texas Instruments (TXN) closed up more than +1%.
Cruise stocks rallied sharply on Tuesday, led by a +13% jump in Carnival (CCL) to lead gainers in the S&P 500 after boosting its full-year adjusted EPS estimate to $2.24 from a previous estimate of $2.22. Also, Royal Caribbean Cruises (RCL) closed up more than +7%, and Norwegian Cruise Line Holdings (NCLH) closed up more than +3%.
Fair Isaac (FICO) closed down more than -26% to lead credit reporting agencies lower and losers in the S&P 500 after FHA director Pulte announced a move that makes it easier for lenders to adopt VantageScore, a move that will increase competition that could pressure credit companies’ market share and pricing power. Also, Equifax (EFX) closed down more than -3%, and TransUnion (TRU) closed down more than -2%.
US steel makers fell on Tuesday after President Trump announced plans for a $15 billion Mesabi Metallics steel plant in Iowa that could produce 10 million tons of steel by 2030. Steel Dynamics (STLD), Nucor Corp (NUE), and Commercial Metals (CMC) closed down more than -3%, and Cleveland Cliffs (CLF) closed down more than -1%.
Summit Therapeutics (SMMT) closed up more than +6% after AstraZeneca said it would make a $2 billion strategic equity investment in the company to jointly develop drugs.
CarMax (KMX) closed up more than +4% after reporting Q2 net sales and operating revenue of $7.88 billion, well above the consensus of $7.05 billion.
FuelCell Energy (FCEL) closed up more than +4% after Oppenheimer & Co initiated coverage on the stock with a recommendation of outperform and a price target of $24.
Oracle (ORCL) closed up more than +3% after Axios reported that OpenAI’s annual recurring revenue is nearing $70 billion. OpenAI signed a deal with Oracle last year to support the development of five US data centers.
UniQure NV (QURE) closed down more than -37% after saying the benefits of its Huntington’s disease gene therapy drug AMT-130 were not as good after four years as they were after three years in a small trial, a result that could complicate its bid to get the treatment approved by regulators.
Apple (AAPL) closed down more than -2% to lead losers in the Dow Jones Industrials and Nasdaq 100 after Bank of America said Apple faces risks as the company’s Siri AI lacks the features that Meta Platform’s Muse AI agent has.
Earnings Reports (9/30/2026)
Cal-Maine Foods Inc (CALM), Conagra Brands Inc (CAG), FactSet Research Systems Inc (FDS), Jabil Inc (JBL), Micron Technology Inc (MU), Progress Software Corp (PRGS).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

Stocks Settle Mixed as Bond Yields Rise

The S&P 500 Index ($SPX) (SPY) is up by +0.03% today, the Dow Jones Industrial Average ($DOWI) (DIA) is up by +0.01%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.10%. December E-mini S&P futures (ESZ26) are up +0.05%, and December E-mini Nasdaq futures (NQZ26) are up +0.09%.
Stock indexes are moving higher today. Stocks are supported today as lower crude prices have stabilized bond yields. Crude prices are under pressure today on signs that a steady flow of crude oil is coming out of the Persian Gulf through the Strait of Hormuz, easing supply concerns and inflation risks. The 10-year T-note yield is little changed today at 5.23% after soaring to a 19-year high of 5.27% on Monday.
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Today’s US economic news showed the July S&P composite-20 home price index rose +0.3% m/m and +2.47% y/y, stronger than expectations of +0.2% m/m and +2.20% y/y, with the +2.47% y/y gain the largest year-on-year increase in 14 months.
Nov WTI crude oil prices (CLX26) are down more than -1% today as signs of larger oil exports from Saudi Arabia are bearish for prices. Tracking data compiled by Bloomberg show Saudi Arabia's crude exports stood at 5.28 million bpd in September, the highest in seven months. Saudi Arabia also said it restored about 3.5 million bpd of the East-West Pipeline's 7 million bpd capacity on Monday after repairs restored the link damaged by drone strikes earlier this month. Crude losses are limited as hopes remain dim for an imminent breakthrough to end the war in Iran.
Markets are discounting a 70% chance of a +25 bp Fed rate hike at the next FOMC meeting on October 27-28.
Overseas stock markets are mixed today. The Euro Stoxx 50 rose to a 2.5-week high and is up +0.78%. China's Shanghai Composite closed up +0.18%. Japan's Nikkei-225 Stock Average closed down -0.60%.
Interest Rates
December 10-year T-notes (ZNZ6) are up +2 ticks today. The 10-year T-note yield is down -0.7 bp to 5.229%. T-note prices are moving higher today as a -1% decline in WTI crude oil prices is easing inflation expectations. T-notes also have support as some month-end buying occurs, as bond fund managers purchase T-notes ahead of month-end portfolio rebalancing on Wednesday. T-notes fell back from their best level after the July S&P composite-20 home price index rose more than expected.
European government bond yields are moving lower today. The 10-year German bund yield is down -4.8 bp to 3.595%. The 10-year UK gilt yield is down -5.5 bp to 5.367%.
The Eurozone Sep economic confidence indicator unexpectedly fell -0.5 to 97.9, weaker than expectations of an increase to 99.0.
Spain Sep CPI (EU harmonized) rose +5.0% y/y, stronger than expectations of +4.9% y/y and the largest increase in 3.5 years. Sep core CPI rose +3.1% y/y, stronger than expectations of +3.0% y/y.
Markets are discounting a 27% chance of a +25 bp ECB rate hike at the ECB’s next meeting on October 29.
US Stock Movers
Chipmakers and AI stocks are moving higher today, supporting gains in the broader market. The iShares Semiconductor ETF (SOXX) is up more than +1%. Applied Materials (AMAT) is up more than +4% to lead gainers in the Nasdaq 100, and KLA Corp (KLAC), Lam Research (LRCX), and Marvell Technology (MRVL) are up more than +3%. Also, ARM Holdings Plc (ARM), Broadcom (AVGO), and Microchip Technology (MCHP) are up more than +2%, and ASML Holding NV (ASML), Analog Devices (ADI), and Texas Instruments (TXN) are up more than +1%.
Cruise stocks are climbing today, led by a +11% jump in Carnival (CCL) to lead gainers in the S&P 500 after boosting its full-year adjusted EPS estimate to $2.24 from a previous estimate of $2.22. Also, Royal Caribbean Cruises (RCL) is up more than +5%, and Norwegian Cruise Line Holdings (NCLH) is up more than +4%.
Software stocks are under pressure for a second day today, limiting gains in the overall market. Datadog (DDOG) and Cadence Design Systems (CDNS) are down more than -3%. Also, Atlassian Corp (TEAM) is down more than -2%, and ServiceNow (NOW), Autodesk (ADSK), Microsoft (MSFT), and Workday (WDAY) are down more than -1%.
Fair Isaac (FICO) is down more than -20% to lead credit reporting agencies lower after FHA director Pulte announced a move that makes it easier for lenders to adopt VantageScore, a move that will increase competition that could pressure credit companies’ market share and pricing power. Equifax (EFX) and TransUnion (TRU) are also down more than -4%.
Summit Therapeutics (SMMT) is up more than +9% after AstraZeneca said it would make a $2 billion strategic equity investment in the company to jointly develop drugs.
CarMax (KMX) is up more than +7% after reporting Q2 net sales and operating revenue of $7.88 billion, well above the consensus of $7.05 billion.
FuelCell Energy (FCEL) is up more than +7% after Oppenheimer & Co initiated coverage on the stock with a recommendation of outperform and a price target of $24.
UniQure NV (QURE) is down more than -36% after saying the benefits of its Huntington’s disease gene therapy drug AMT-130 were not as good after four years as they were after three years in a small trial, a result that could complicate its bid to get the treatment approved by regulators.
Earnings Reports (9/29/2026)
AAR Corp (AIR), CarMax Inc (KMX), Carnival Corp Ltd (CCL), Concentrix Corp (CNXC), Critical Metals Corp (CRML), Uranium Energy Corp (UEC).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

Stocks Rebound as Crude Prices Fall and Bond Yields Stabilize

The S&P 500 Index ($SPX) (SPY) closed down by -0.77% on Monday, the Dow Jones Industrial Average ($DOWI) (DIA) closed down by -0.67%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -1.08%. December E-mini S&P futures (ESZ26) fell -0.76%, and December E-mini Nasdaq futures (NQZ26) fell -1.07%.
Stock indexes settled lower on Monday amid a surge in bond yields. Stocks fell as bond yields rose amid concerns that the Strait of Hormuz will remain closed for the foreseeable future, keeping oil prices elevated and raising inflation expectations, which could prompt the Fed to keep tightening monetary policy. The 10-year T-note yield soared to a 19-year high of 5.27% on Monday. The jump in bond yields weighed on chipmakers and AI stocks, which weighed on the overall market.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Crude prices initially rose more than +4% on Monday as hopes faded for an imminent breakthrough to end the war in Iran and reopen the Strait of Hormuz after President Trump rejected Iran’s latest proposals to end the war. However, stock indexes recovered from their worst levels when crude prices gave up nearly all of their gains when CNN reported that President Trump is willing to give Iran sanctions relief in return for concrete progress on the nuclear issue.
Hawkish comments from Fed Governor Lisa Cook signaled she may favor additional Fed rate hikes, saying the recent Fed rate hike was meant to address too-high inflation and that the US labor market seems well positioned to handle higher interest rates.
On the positive side for stocks, the US and China detailed a plan to cut tariffs on about $30 billion of imports from each country. China's Commerce Ministry said Monday that the reductions will take effect once both sides complete procedures required under their domestic laws. Also, Monday’s US economic news supported stocks after the Sep Dallas Fed manufacturing survey fell -1.8 to 9.8, a smaller decline than expectations of 7.8.
Nov WTI crude oil prices (CLX26) settled slightly higher on Monday as hopes faded for an imminent breakthrough in peace talks to end the Iran war. President Trump on Saturday rejected Iran's latest proposal to end the war, and Iran said it will not soften any demands it has made to reopen the Strait of Hormuz. The Wall Street Journal reported that US negotiators are pressing Iran to make concessions on its nuclear program to revive the peace talks and placate President Trump on an issue he has made a top priority. The newspaper also reported that Mr. Trump expects to resume the bombing campaign against Iran after the US midterm elections on November 3. Crude prices also rose after Iran-backed Houthi militants in Yemen launched drone and missile attacks against Saudi Arabia over the weekend.
Markets are discounting a 70% chance of a +25 bp Fed rate hike at the next FOMC meeting on October 27-28.
Overseas stock markets settled lower on Monday. The Euro Stoxx 50 closed down -0.02%. China's Shanghai Composite fell to a 1.75-month low and closed down -1.67%. Japan's Nikkei-225 Stock Average fell from a 1.25-month high and closed down -0.73%.
Interest Rates
December 10-year T-notes (ZNZ6) closed down -12 ticks on Monday. The 10-year T-note yield rose +6.9 bp to 5.230%. T-note prices tumbled to a 19-year nearest-futures low on Monday, and the 10-year T-note yield rose to a new 19-year high of 5.272%. T-notes were pressured on Monday after President Trump rejected Iran’s latest peace proposal, which could keep oil prices higher for longer as the Strait of Hormuz remains closed, and could persuade the Fed to keep raising interest rates to contain inflation. Hawkish comments on Monday from Fed Governor Cook also undercut T-notes as she signaled she may favor additional Fed rate increases, saying the US labor market seems well positioned to handle higher interest rates. T-notes recovered from their worst level after crude prices gave up most of an early sharp rally.
European government bond yields moved higher on Monday. The 10-year German bund yield climbed to a 17-year high of 3.654% and finished up +4.2 bp to 3.643%. The 10-year UK gilt yield rose to a 19-year high of 5.437% and finished up +5.6 bp to 5.422%.
Comments from ECB President Christine Lagarde were dovish for ECB policy when she said, “While growth has been resilient, since the last ECB meeting, long-term interest rates have risen notably, which will slow growth and reduce pass-through by more than projected in our September exercise.”
Markets are discounting a 36% chance of a +25 bp ECB rate hike at the ECB’s next meeting on October 29.
US Stock Movers
Chipmakers and AI stocks retreated on Monday as T-note yields soared. The iShares Semiconductor ETF (SOXX) closed down more than -1%. ARM Holdings Plc (ARM) closed down more than -8% to lead losers in the Nasdaq 100, and Qualcomm (QCOM) closed down more than -7%. Also, Intel (INTC) closed down more than -5%, and SanDisk (SNDK), Advanced Micro Devices (AMD), and Marvell Technology (MRVL) closed down more than -3%. In addition, Micron Technology (MU) closed down more than -2%.
Mining stocks fell sharply on Monday as gold and silver prices tumbled to 1.75-month lows. Anglogold Ashanti (AU), Coeur Mining (CDE), and Hecla Mining (HL) closed down more than -6%, and Newmont Corp (NEM) and Barrick Mining (B) closed down more than -4%.
Software stocks were under pressure on Monday and weighed on the broader market. Atlassian Corp (TEAM) closed down more than -4%, and ServiceNow (NOW) and Oracle (ORCL) closed down more than -3%. Salesforce (CRM) and Intuit (INTU) also fell more than 2%, while Autodesk (ADSK), Microsoft (MSFT), Adobe Systems (ADBE), Palantir Technologies (PLTR), and Thomson Reuters (TRI) fell more than -1%.
Cybersecurity stocks rallied on Monday and limited losses in the broader market. Palo Alto Networks (PANW) closed up more than +4% to lead gainers in the S&P 500 and Nasdaq 100. Also, Okta (OKTA) and Zscaler (ZS) closed up more than +3%, and Crowdstrike Holdings (CRWD) closed up more than +2%. In addition, Cloudflare (NET), Fortinet (FTNT), and SentinelOne (S) closed up more than +1%.
Roblox (RBLX) closed down more than -9% after Jeffries downgraded the stock to underperform from hold, with a price target of $38.
Bloom Energy (BE) closed down more than -8% to lead losers in the S&P 500 after Oracle sent a New Mexico data center developer a notice citing force majeure, in an attempt to put off payments if the data center gets derailed.
Boeing (BA) closed down more than -6% to lead losers in the Dow Jones Industrials after the FAA said it is holding off on certification of the company’s new 737 Max 10 jets due to a new software issue, just as the company was in the final stages of winning approval to begin deliveries to airlines.
UiPath (PATH) closed down more than -2% after D.A. Davidson downgraded the stock to underperform from neutral, with a price target of $10.
Snowflake (SNOW) closed down more than -2% after announcing it intends to offer $3.5 billion of convertible senior notes due in 2029 and 2031.
Kodiak Sciences (KOD) closed up more than +178% after saying a Phase-3 study of Zenkuda and tabirafusp-ted met key endpoints in patients with wet age-related macular degeneration.
Netease ADRs (NTES) closed up more than +4% after Morgan Stanley named it a top pick among peers, expecting the company’s new Ananta game to become a blockbuster launch and a core growth driver next year.
Nvidia (NVDA) closed up more than +1% after boosting its share buyback program by $150 billion.
Earnings Reports (9/29/2026)
AAR Corp (AIR), CarMax Inc (KMX), Carnival Corp Ltd (CCL), Concentrix Corp (CNXC), Critical Metals Corp (CRML), Uranium Energy Corp (UEC).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart

Stocks Settle Lower on Rising Bond Yields

Key Points
Arm says its architecture has held more than 99% of the smartphone application processor market for years, and its data center royalties more than doubled in its latest quarter.
Marvell's revenue grew 37% in its latest quarter, and management expects growth to speed up through the rest of fiscal 2027.
Marvell's 10 largest customers made up 82% of fiscal 2026 revenue, and a new warrant could give Google up to about 59 million Marvell shares.
Arm Holdings (NASDAQ:ARM) and Marvell Technology (NASDAQ:MRVL) both sell into the AI data center boom, but they make money in very different ways.
Arm provides the architectural blueprints for the energy-efficient processors found in nearly every smartphone and a growing number of data centers. Marvell specializes in high-speed networking and custom silicon for moving and processing data within the cloud. Investors have rewarded both, with Marvell shares more than tripling over the past year and Arm's more than doubling.
The case for Arm
Arm licenses its intellectual property to semiconductor companies and earns royalties on chips that use its designs. The company says it has held more than 99% of the smartphone application processor market for years, and it's pushing further into data centers, where its royalties more than doubled year over year in its fiscal first quarter.
In fiscal 2026, which ended March 31, 2026, revenue rose 22.8% to $4.92 billion. Net income came to $904 million, up from $792 million in fiscal 2025. Growth held at 22% in the June quarter, and management guided for revenue of $1.38 billion, plus or minus $50 million, in the September quarter.
Arm carried no debt beyond lease obligations at the end of fiscal 2026, and its current ratio was about 6.0, meaning current assets covered short-term obligations six times over. Free cash flow, which is operating cash flow minus capital expenditures, was about $979 million. Stock-based compensation equaled roughly 69% of operating cash flow. Because it's a noncash expense added back to the cash flow statement, it inflates reported cash generation.
The case for Marvell Technology
Marvell makes data infrastructure chips, including networking products and custom silicon for cloud companies. Its revenue is concentrated among a small group of buyers. Its 10 largest customers made up 82% of revenue in fiscal 2026, with one distributor accounting for 37% and one direct customer for 14%.
One of those relationships just got bigger. In July, Marvell signed an expanded agreement to develop custom chips that attach to Google's TPU ecosystem, and in August, it issued Google a warrant to buy up to 58,970,907 shares at $206.58 apiece. Nearly all of those shares vest only as Google's purchases add up, with one tranche vesting for each $500 million in custom product revenue through fiscal 2033.
Revenue climbed 42.1% to $8.19 billion in fiscal 2026, which ended Jan. 31, 2026. Marvell posted GAAP net income of $2.67 billion after net losses in each of the two prior years, although a $1.8 billion pre-tax gain on the sale of its automotive Ethernet business accounts for a large share of that profit. Momentum has picked up since. Revenue rose 37% to a record $2.74 billion in the second quarter of fiscal 2027, and management guided for about $3.15 billion in the third quarter, plus or minus 5%.
At the end of fiscal 2026, total debt equaled about 0.3 times shareholders' equity, and the current ratio was about 2.0. Free cash flow totaled about $1.4 billion, and stock-based compensation accounted for roughly 34% of operating cash flow.
Risk profile comparison
Arm faces competition from free, open-source alternatives like RISC-V, and the company notes that many of its customers support that architecture. Smartphones remain a large exposure, since mobile application processors produced about 43% of Arm's royalty revenue in fiscal 2026. SoftBank Group also owns about 86.4% of Arm, making it a controlled company and leaving outside shareholders with little say.
Marvell's customer concentration means the loss of a single large buyer could hit results hard. The majority of its products are made by third-party foundries in Taiwan, leaving it exposed to regional geopolitical tensions, and export controls have previously limited its sales to customers in China. The Google warrant could also dilute existing shareholders by roughly 6.7% of today's outstanding shares if it fully vests.
Valuation comparison
Marvell trades at less than half of Arm's multiples of both forward earnings and sales.
Metric
Arm
Marvell Technology
Forward P/E
123.7x
58.0x
P/S ratio
59.8x
26.1x
Valuation metrics sourced from Financial Modeling Prep (FMP) and may differ from other data providers.
Which stock would I buy in 2026?
Marvell looks like the better buy to me, but I'd go in knowing that a small group of cloud customers can swing its results from one year to the next.
The case comes down to growth and price. Marvell's sales are rising faster than Arm's, and management expects that pace to accelerate through the rest of fiscal 2027 as its custom chip work ramps up. Yet its shares trade at less than half of Arm's multiple of forward earnings.
I'm comfortable with the Google warrant. It could dilute existing holders, but nearly all of those shares vest only if Google keeps buying custom chips from Marvell in very large quantities, so the dilution would accompany a lot of new revenue. Having Google tie its own upside to Marvell's success is a vote of confidence I'd take.
Arm is a terrific business. Its designs are found in nearly every smartphone, and data centers are becoming a second growth engine. The problem is the price. At more than 120 times forward earnings, the stock already assumes years of excellent execution, and SoftBank's majority stake leaves outside shareholders with little say in how the company is run.
For a patient investor who owns a diversified portfolio and plans to hold for years, Marvell offers more growth for the money. Its Investor Day on Oct. 6 should give a clearer look at how much of that growth management can see ahead.
Should you buy stock in Arm Holdings right now?
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Mike Schwenk has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Arm Holdings, and Marvell Technology. The Motley Fool has a disclosure policy.

Arm vs. Marvell Technology: Which AI Chip Stock Is a Better Buy in 2026?

The S&P 500 Index ($SPX) (SPY) is down by -0.92% today, the Dow Jones Industrial Average ($DOWI) (DIA) is down by -0.75%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -1.55%. December E-mini S&P futures (ESZ26) are down -0.90%, and December E-mini Nasdaq futures (NQZ26) are down -1.47%.
Stock indexes are under pressure today as crude oil prices raise inflation risks and push bond yields higher. Crude prices are up more than +2% today as hopes faded for an imminent breakthrough to end the war in Iran and reopen the Strait of Hormuz after President Trump rejected Iran’s latest proposals to end the war. Today’s surge in crude prices has raised inflation expectations and pushed global bond yields higher, with the 10-year T-note yield climbing to a 19-year high of 5.27% and the 10-year German Bund yield rising to a 17-year high of 3.65%. The jump in bond yields is weighing on chipmakers and AI stocks, which are leading the overall market lower.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
On the positive side for stocks, the US and China detailed a plan to cut tariffs on about $30 billion of imports from each country. China's Commerce Ministry said today that the reductions will take effect once both sides complete procedures required under their domestic laws. Also, today’s US economic news supported stocks after the Sep Dallas Fed manufacturing survey fell -1.8 to 9.8, a smaller decline than expectations of 7.8.
Nov WTI crude oil prices (CLX26) are up more than +2% today on fading hopes for an imminent breakthrough in peace talks to end the Iran war. President Trump on Saturday rejected Iran's latest proposal to end the war, and Iran said it will not soften any demands it has made to reopen the Strait of Hormuz. The Wall Street Journal reported that US negotiators are pressing Iran to make concessions on its nuclear program to revive the peace talks and placate President Trump on an issue he has made a top priority. The newspaper also reported that Mr. Trump expects to resume the bombing campaign against Iran after the US midterm elections on November 3. Crude prices also rose after Iran-backed Houthi militants in Yemen launched drone and missile attacks against Saudi Arabia over the weekend.
Markets are discounting a 68% chance of a +25 bp Fed rate hike at the next FOMC meeting on October 27-28.
Overseas stock markets are mixed today. The Euro Stoxx 50 is up +0.57%. China's Shanghai Composite fell to a 1.75-month low and closed down -1.67%. Japan's Nikkei-225 Stock Average fell from a 1.25-month high and closed down -0.73%.
Interest Rates
December 10-year T-notes (ZNZ6) are down -17 ticks today. The 10-year T-note yield is up +9.7 bp to 5.257%. T-note prices tumbled to a 19-year nearest-futures low today, and the 10-year T-note yield rose to a new 19-year high of 5.272%. Today’s +2% jump in WTI crude oil has strengthened inflation expectations, undercutting T-note prices and pushing yields higher. Losses in T-notes are limited as today’s slump in equities has spurred some safe-haven demand for T-notes.
European government bond yields are moving higher today. The 10-year German bund yield climbed to a 17-year high of 3.650% and is up +4.1 bp to 3.642%. The 10-year UK gilt yield rose to a 1.5-week high of 5.421% and is up +5.4 bp to 5.420%.
Comments from ECB President Christine Lagarde were dovish for ECB policy when she said, “While growth has been resilient, since the last ECB meeting, long-term interest rates have risen notably, which will slow growth and reduce pass-through by more than projected in our September exercise.”
Markets are discounting a 37% chance of a +25 bp ECB rate hike at the ECB’s next meeting on October 29.
US Stock Movers
Chipmakers and AI stocks are sliding today, with the jump in T-note yields. The iShares Semiconductor ETF (SOXX) is down more than -3%. ARM Holdings Plc (ARM) is down more than -8% to lead losers in the Nasdaq 100, and Intel (INTC) and Qualcomm (QCOM) are down more than -6%. Also, SanDisk (SNDK) and Advanced Micro Devices (AMD) are down more than -5%, and Marvell Technology (MRVL) is down more than -4%. In addition, Micron Technology (MU), Seagate Technology Holdings Plc (STX), and Western Digital (WDC) are down more than -3%, and Applied Materials (AMAT), Lam Research (LRCX), and KLA Corp (KLAC) are down more than -2%.
Mining stocks are slipping today as gold and silver prices tumbled to 1.75-month lows. Anglogold Ashanti (AU) is down more than -6%, and Coeur Mining (CDE) and Hecla Mining (HL) are down more than -5%. Also, Newmont Corp (NEM) and Barrick Mining (B) are down more than -4%, and Freeport-McMoRan (FCX) and Southern Copper (SCCO) are down more than -1%.
Software stocks are slumping today, weighing on the broader market. Atlassian Corp (TEAM) is down more than -4%, and ServiceNow (NOW) and Oracle (ORCL) are down more than -3%. Also, Adobe Systems (ADBE), Intuit (INTU), and IBM (IBM) are down more than -2%, and Salesforce (CRM) is down more than -4% to lead losers in the Dow Jones Industrials. In addition, Autodesk (ADSK) and Microsoft (MSFT) are down more than -1%.
Bloom Energy (BE) is down more than -9% to lead losers in the S&P 500 after Oracle sent a New Mexico data center developer a notice citing force majeure, in an attempt to put off payments if the data center gets derailed.
Roblox (RBLX) is down more than -7% after Jeffries downgraded the stock to underperform from hold, with a price target of $38.
Boeing (BA) is down more than -4% to lead losers in the Dow Jones Industrials on a complaint that the company violated several federal laws when it retaliated against a federal contract compliance expert for calling attention to aircraft safety and worker health issues.
UiPath (PATH) is down more than -3% after D.A. Davidson downgraded the stock to underperform from neutral, with a price target of $10.
Snowflake (SNOW) is down more than -2% after announcing it intends to offer $3.5 billion of convertible senior notes due in 2029 and 2031.
Kodiak Sciences (KOD) is up more than +142% after saying a Phase-3 study of Zenkuda and tabirafusp-ted met key endpoints in patients with wet age-related macular degeneration.
Netease ADRs (NTES) are up more than +5% after Morgan Stanley named it a top pick among peers, expecting the company’s new Ananta game to become a blockbuster launch and a core growth driver next year.
Nvidia (NVDA) is up more than +2% to lead gainers in the Dow Jones Industrials after boosting its share buyback program by $150 billion.
Earnings Reports (9/28/2026)
IDT Corp (IDT), Jefferies Financial Group Inc (JEF), Liberty Live Holdings Inc (LLYVA), ReposiTrak Inc (TRAK), SR Bancorp Inc (SRBK), Vail Resorts Inc (MTN).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart

Stocks Retreat as Bond Yields Surge

The S&P 500 Index ($SPX) (SPY) is down by -0.51% today, the Dow Jones Industrial Average ($DOWI) (DIA) is down by -0.66%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.76%. December E-mini S&P futures (ESZ26) are down -0.52%, and December E-mini Nasdaq futures (NQZ26) are down -0.81%.
Stock indexes are tumbling today as crude oil prices and bond yields soar as hopes faded for an imminent breakthrough to end the war in Iran and reopen the Strait of Hormuz. Crude prices are up more than +2% today after President Trump rejected Iran’s latest proposals to end the war. Today’s surge in crude prices has raised inflation expectations and pushed global bond yields higher, with the 10-year T-note yield climbing to a 19-year high of 5.23% and the 10-year German Bund yield rising to a 17-year high of 3.65%. The jump in bond yields is weighing on chipmakers and AI stocks, which are leading the overall market lower.
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On the positive side for stocks, the US and China detailed a plan to cut tariffs on about $30 billion of imports from each country. China's Commerce Ministry said today that the reductions will take effect once both sides complete procedures required under their domestic laws.
Nov WTI crude oil prices (CLX26) are up more than +2% today on fading hopes for an imminent breakthrough in peace talks to end the Iran war. President Trump on Saturday rejected Iran's latest proposal to end the war, and Iran said it will not soften any demands it has made to reopen the Strait of Hormuz. The Wall Street Journal reported that US negotiators are pressing Iran to make concessions on its nuclear program to revive the peace talks and placate President Trump on an issue he has made a top priority. The newspaper also reported that Mr. Trump expects to resume the bombing campaign against Iran after the US midterm elections on November 3. Crude prices also rose after Iran-backed Houthi militants in Yemen launched drone and missile attacks against Saudi Arabia over the weekend.
Markets are discounting a 68% chance of a +25 bp Fed rate hike at the next FOMC meeting on October 27-28.
Overseas stock markets are mixed today. The Euro Stoxx 50 is up +0.43%. China's Shanghai Composite fell to a 1.75-month low and closed down -1.67%. Japan's Nikkei-225 Stock Average fell from a 1.25-month high and closed down -0.73%.
Interest Rates
December 10-year T-notes (ZNZ6) are down -9 ticks today. The 10-year T-note yield is up +5.7 bp to 5.217%. Dec T-notes are sliding today, and the 10-year T-note yield rose to a new 19-year high of 5.234%. Today’s +2% jump in WTI crude oil has strengthened inflation expectations, undercutting T-note prices and pushing yields higher. Losses in T-notes are limited as today’s slump in equities has spurred some safe-haven demand for T-notes.
European government bond yields are moving higher today. The 10-year German bund yield climbed to a 17-year high of 3.650% and is up +3.8 bp to 3.639%. The 10-year UK gilt yield rose to a 1.5-week high of 5.421% and is up +4.8 bp to 5.414%.
Markets are discounting a 45% chance of a +25 bp ECB rate hike at the ECB’s next meeting on October 29.
US Stock Movers
Chipmakers and AI stocks are sliding today, with the jump in T-note yields. The iShares Semiconductor ETF (SOXX) is down more than -1%. ARM Holdings Plc (ARM) is down more than -7% to lead losers in the Nasdaq 100, and Qualcomm (QCOM) is down more than -7% to lead losers in the S&P 500. Also, Intel (INTC) and SanDisk (SNDK) are down more than -3%, and Advanced Micro Devices (AMD), Marvell Technology (MRVL), and Western Digital (WDC) are down more than -2%.
Software stocks are slumping today, weighing on the broader market. Atlassian Corp (TEAM) is down more than -7%, and ServiceNow (NOW) is down more than -5%. Also, Adobe Systems (ADBE) and Intuit (INTU) are down more than -4%, and Salesforce (CRM) is down more than -4% to lead losers in the Dow Jones Industrials. In addition, Autodesk (ADSK), Microsoft (MSFT), Oracle (ORCL), and Workday (WDAY) are down more than -2%, and Palantir Technologies (PLTR), Thomson Reuters (TRI), Datadog (DDOG), and IBM (IBM) are down more than -1%.
Mining stocks are slipping today as gold and silver prices tumbled to 1.75-month lows. Anglogold Ashanti (AU) is down more than -5%, and Coeur Mining (CDE) and Hecla Mining (HL) are down more than -4%. Also, Newmont Corp (NEM) and Barrick Mining (B) are down more than -3%, and Freeport-McMoRan (FCX) and Southern Copper (SCCO) are down more than -1%.
UiPath (PATH) is down more than -6% after the Wall Street Journal reported that MGM Resorts International is discussing making a bid for the company.
Roblox (RBLX) is down more than -6% after Jeffries downgraded the stock to underperform from hold with a price target of $38.
Snowflake (SNOW) is down more than -4% after announcing it intends to offer $3.5 billion of convertible senior notes due in 2029 and 2031.
Kodiak Sciences (KOD) is up more than +113% after saying a Phase-3 study of Zenkuda and tabirafusp-ted met key endpoints in patients with wet age-related macular degeneration.
Netease ADRs (NTES) are up more than +4% after Morgan Stanley named it a top pick among peers, expecting the company’s new Ananta game to become a blockbuster launch and a core growth driver next year.
Nvidia (NVDA) is up more than +3% to lead gainers in the S&P 500, Dow Jones Industrials, and Nasdaq 100 after boosting its share buyback program by $150 billion.
Earnings Reports (9/28/2026)
IDT Corp (IDT), Jefferies Financial Group Inc (JEF), Liberty Live Holdings Inc (LLYVA), ReposiTrak Inc (TRAK), SR Bancorp Inc (SRBK), Vail Resorts Inc (MTN).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart

Periodand min./max. price, $	Price change, %		Volatility, %		Volume, $
Periodand min./max. price, $	ARM	Industry	ARM	Industry	Volume, $
Yesterday 228.1 - 234.2	-9.89	3.37	11.60	1.28	268.66M
Week 208.3 - 234.2	-7.50	3.65	5.70	4.93	3.86B
Month 208.3 - 318.4	-31.94	2.86	12.91	11.62	26.26B
3 Months 208.3 - 337.0	-17.73	4.38	20.07	20.56	63.69B
6 Months 193.9 - 452.7	5.49	7.88	37.18	32.67	188.59B
Year 100.0 - 452.7	16.93	15.86	78.32	52.46	259.90B
3 years 47.1 - 452.7	306.06	13.08	134.11	89.69	610.31B
5 years —	—	31.53	171.60	116.60	—
All time 46.5 - 452.7	362.39	31.40	—	—	607.13B

Arm Holdings plc

Price and volatility history

Risk ratios