Whatever ARM's management and shareholders think of the prospect of being bought by Apple, they must be smirking to themselves about the effect on ARM's share price that this persistent rumour is having.
Back in April we had the widely-reported rumour that Apple was about to buy ARM and it turned out to be nothing. As we said at the time, there are many reasons why it wouldn't represent a good business move for Apple and we'd be surprised if regulators would even allow it to happen at all. Our view hasn't changed.
Well last week the rumours came back again, driving ARM's shares up by as much as 32 percent before they settled back down again after ARM said it had received no approach. The persistence of this rumour, however, has meant ARM was easily the biggest gainer among our shares last week.
Aside from ARM, the disties had a decent week, while NVIDIA was the biggest loser after a big sell-off of its stock at the start of last week.
|Company||Listing||Share price 24/5/10||Share price 1/6/10||Share price 7/6/10||Share price 14/6/10||7-day change||Market cap (bn)|