News was going around yesterday that Apple could be considering an acquisition of ARM, who are the folks behind the popular ARM processors used in many devices. Now the CEO of ARM, Warren East, has come out to pour cold water on such a move, stating that with ARM’s market capitalization of more than £3bn ($4.6bn), it wouldn’t make sense for Apple to come up with so much money to acquire the company when the designs can be licensed for just a fraction of that. The benefit of these rumors to ARM is that it has pushed the share price upwards. Let’s not forget that Apple also owns its own chip designer, PA Semi.