Arm stock is surging today after the semiconductor company reported better-than-expected results for the first quarter of its 2027 fiscal year and provided strong guidance for the current quarter. Arm posted non-GAAP earnings per share of $0.45 on sales of $1.29 billion, exceeding average analyst targets of $0.40 per share and $1.27 billion, respectively. The company also projected current quarter revenue between $1.36 billion and $1.4 billion, with the midpoint of adjusted EPS guidance beating analyst forecasts. The surge is also supported by a broader market rebound, especially in chip stocks, following yesterday's sell-off, driven by strong demand for AI technologies.