Arm Stock Falters on Cautious Analyst Coverage

The stock debuted on the Nasdaq yesterday

Deputy Editor
Sep 15, 2023 at 10:32 AM
facebook X logo linkedin


Shares of Nasdaq newbie Arm Holdings (NASDAQ:ARM) are 1.1% lower at $62.88 at last glance, one day after the semiconductor and software concern went public. The company's initial public offering (IPO) was successful, with ARM jumping nearly 25% in the previous session from $51.

Nevertheless, Needham initiated coverage with a "hold" rating, saying the company's valuation looks "full." In his note, Needham analyst Charles Shi said, "Arm's architecture is a foundation of smartphones, but we believe the world is entering a post-smartphone era that will see high-performance computing and IoT lead the next phase of semiconductor growth."

There's not much to comment on concerning Arm stock's technical setup. With just a day of trading under its belt, every tick higher marks a new year-to-date high, including today's peak of $69 earlier in the session.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI