Arm Just Got a Major Vote of Confidence From Its CEO

This article first appeared on GuruFocus. Arm Holdings (ARM, Financials) the chip architecture business whose designs power processors throughout the technology world, was one of the biggest movers of the year Monday.Shares rose 17% to $323 after CEO Rene Haas told CNBC demand for the company's technology was off the charts. More crucially, Haas said he's getting more convinced Arm can surpass its $2 billion revenue target for its developing AGI CPU business.That goal has already moved fast. Arm started in March with an initial target of $1 billion, then increased it to $2 billion in May and continued to pump up its confidence through the summer. By September, Haas said, the pipeline was above that level.