Arm drops some clues about its future, but they’re not enough to help the stock

Arm Holdings PLC had been a hot stock in recent months, with investors generally excited about the semiconductor sector again and intrigued by the prospect that Arm could get into the business of making custom chips.

So in light of the chip-design stock’s 43% rally over the past three months, Arm’s

ARM lukewarm earnings report Wednesday seems to be stinging. The company largely matched expectations for the latest quarter but came up short with its outlook, and even some breadcrumbs about future business explorations weren’t enough to satisfy Wall Street.