Although ARM's stock price reached an eight-year high on Thursday, Apple and ARM apparently aren't in talks.
Rumors swirled Thursday, claiming that ARM, an embedded chip designer whose embedded cores power many of the world's smartphones, might be an acquisition target for Apple. ARM's share price closed at 258.90 pence on London's stock exchange.
"Exciting though it is to have the share price pushed up by these rumours, common sense tells us that our standard business model is an excellent way for technology companies to gain access to our technology. Nobody has to buy the company," East told the paper.
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