Stock Movers KB Homes Down, Arm to Sell Its Own Chips, ImmunityBio Plunges
Mar 24, 2026
Avalon Purnell, Bloomberg equities reporter who breaks down movers in the market. She covers KB Home missing Q2 delivery forecasts and investor reaction. She explains Arm’s shift to selling its own chips and the ambitious $15 billion target. She reviews ImmunityBio’s stock plunge after an FDA warning letter.
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KB Home Flags Geopolitical Risk To Demand
- KB Home missed Q2 delivery and revenue forecasts, and management flagged Middle East conflict as an added layer of consumer uncertainty.
- Avalon Purnell noted the company says it can weather the storm but sees geopolitical risk compounding existing macro pressures.
Interview Recommendation For Arm CEO Comments
- Avalon Purnell referenced a Bloomberg interview with Arm CEO Reneé Haas for deeper context on the company's strategy shift.
- She suggested listeners check Tom McKenzie's Terminal interview for more on Arm's entrance into chip sales.
Arm Moving From Licensing To Selling Chips
- Arm will start selling its own AI chips for the first time and expects about $15 billion annual sales within five years.
- Avalon Purnell said Meadow is the first major customer and TSMC will manufacture the chips, with shipping starting at year-end.