TradingKey – Arm FY2026: $4.92B revenue (+20% YoY), data centre royalties doubled, $0.60 EPS record. $2B in orders but only half can be filled. Bernstein Outperform, TD Cowen $265 target. ARM at $257.

On May 6, Arm Holdings (NASDAQ: ARM) reported what it called record results for the fiscal year 2026: $4.92 billion for the entire year, 20% or better year-over-year growth for the third straight year, and data centre royalty revenues that more than doubled from a year ago. The shares have had a big run so far this year. The conundrum creating today’s volatility is one almost any company would prefer: Arm has around $2 billion worth of committed orders for its next-generation AGI CPU chips but because of limited manufacturing capacity,…