NEW YORK (TheStreet) -- Shares of ARM Holdings Plc
(ARMH) are down -2.73% to $42.74 in heavy volume trading today.
Earlier, the chip designer's CEO Simon Segars said he expects the market for chips in mobile, networking and microcontroller sectors to grow by about 50% through 2018, the Wall Street Journal reports.
Segars said there is a big opportunity in low- to medium-priced smartphones. Chips designed by the company are in 95% of all smartphones.
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ARM currently has about 5% of the growing networking, servers and data storage market, and about 22% of the market for microcontrollers and other connected objects.
Segars forecast the markets for those categories will grow by about 50% to $20 billion each by 2018, the Journal said.
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