Tyler Crowe

Arm Holdings and Advanced Micro Devices, AMD, both reported within the past couple of days.

And after both earnings, we saw shares explode as they blasted past earnings expectations, 15%, 20% moves in the day.

We're going to start with Arm Holdings today because shares are quickly retreating after the company mentioned on its call after hours,

that mobile growth was, well, not really growth, and that rising costs were going to impact commodity mobile device sales.

John, Matt, you two played rock, paper, scissors to cover the two.

John, you happened to pick Arm Holdings as a result.

What did you see in the earnings release and the conference call?

And was today's reaction to this, hey, maybe mobile growth isn't great, was that like an appropriate response, do you think, to what you saw?

To say that high valuations, that seems to be par for the course for just about anything that's tangentially related to AI infrastructure or semiconductors, whatever.

And in that vein, we have another relatively highly valued company here with AMD, whose shares jumped as much as 20% yesterday after earnings release.

Now, Matt, I didn't get a chance as much to look over the details, but I bet it had to do with AI spend.

I mean, prove me wrong.

I want to kind of expand on what John was talking about with Arm getting into building their own chips now.

Because we're seeing more and more companies wanting to do this.

Alphabet said they want to do it.

I think Meta's even mentioned it.

Tesla has floated the idea of the TeraFab.

It all sounds ambitious, and I understand why.

But one of the things I think about with the semiconductor industry is that, yes, building fabs is nice and new.

It definitely increased production.