What's Going On With Arm Holdings Stock?
Portfolio Pulse from Erica Kollmann
Arm Holdings Plc (NASDAQ:ARM) shares fell in response to ASML Holding N.V. (NASDAQ:ASML) reporting disappointing Q1 results. ASML missed earnings and sales estimates, impacting semiconductor stocks including ARM, which is down over 12% in five days. Despite this, Evercore ISI Group rated ARM as Outperform with a $156 price target. ARM's current price is below its 50-day moving average and its 52-week high.
April 17, 2024 | 5:51 pm
News sentiment analysis
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NEGATIVE IMPACT
Arm Holdings Plc shares fell due to ASML's poor Q1 results and broader market weakness. Despite this, Evercore ISI initiated coverage with an Outperform rating and a $156 price target.
ARM's stock price is directly impacted by the negative sentiment surrounding semiconductor stocks, influenced by ASML's earnings miss. However, the Outperform rating from Evercore ISI suggests potential upside, mitigating some negative impact.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
ASML Holding N.V. reported lower than expected Q1 earnings and sales, causing its shares and those of related semiconductor companies like ARM to fall.
ASML's disappointing Q1 results have a direct negative impact on its stock price and contribute to broader sector weakness, affecting companies like ARM.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100