Short Take: Apple sells ARM shares

Apple Computer has sold 2 million shares in ARM Holdings, a U.K. designer of microprocessors and related software, for 36 million pounds ($59 million), cutting its stake to 7.2 million shares. The shares represent 4.11 percent of ARM. Apple still holds 14.8 percent of ARM, worth 131 million pounds ($215 million) at market close. ARM began operations in November 1990 as a venture between Apple and the U.K.'s Acorn Computers.