Apple (AAPL) is expected to unveil the iPhone 16 at an event on Monday — and that's lifting shares of Arm Holdings (ARM).

The chip designer's stock gained 5% as investors prepared for Apple’s “It’s Glowtime” event, aided by a Financial Times report that the iPhone 16 is expected to run on a chip based on the Armv9 CPU.

Arm’s chip designs are ꦓexpected to play an important role in the IPhone’s 16 use of generativ♉e AI, the report said. 

Shares up Arm have gained more than 60% in 2024 thanks in part to the growth of Armv9 technology. Chips based on Armv9 technology made up roughly 25% of the firm’s royalty revenue in the 澳洲幸运5官方开奖结果体彩网:second quarter, up from 20% a quarter earlier.

Here's 澳洲幸运5官方开奖结果体彩网:what to expect from today's Apple event. Apple's shares were rec🏅ently edging lower.