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On Wednesday, Arm Holdings ARM.O's stock price fell by 11% after the chip supplier gave first-quarter performance expectations lower than Wall Street's expectations and refused to provide full-year guidance citing global trade and economic uncertainties. Arm's fourth-quarter revenue slightly exceeded analyst expectations but, like other companies, took a cautious stance on quarterly performance expectations. President Trump's announcement of comprehensive global tariffs, as well as stricter restrictions on the export of advanced semiconductors to China, cast a shadow over the prospects of semiconductor companies. "Given the uncertainty in global trade and economic conditions, our visibility at the beginning of the year is lower than usual. Therefore, we believe it is not prudent to issue annual guidance," Chief Financial Officer Jason Child told analysts on a conference call. Prior to Arm's comments, other chip manufacturers such as Samsung and Qualcomm had also issued similar warnings. The company expects first-quarter revenue to be between $10 billion and $11 billion, with the midpoint lower than the average analyst expectation of $11 billion. Arm expects first-quarter adjusted earnings per share to be between 30 and 38 cents, compared to the expected 42 cents per share.