What's Going On With Chipmaker Arm Holdings Stock?
Portfolio Pulse from Erica Kollmann
Arm Holdings Plc (NASDAQ:ARM) shares are trading higher due to strength in chip stocks and recent AI advancements in smartphones. The stock has gained over 50% in the last month, driven by Apple's new AI features and an upcoming inclusion in the Nasdaq 100 Index. B of A Securities raised its price target for Arm from $150 to $180. Despite the recent surge, the average 1-year price target suggests a potential downside.
June 18, 2024 | 6:22 pm
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POSITIVE IMPACT
Apple's announcement of robust AI features in new iPhone models and iOS updates has positively impacted Arm Holdings' stock, as Arm's architecture is used in 99% of smartphone CPU cores.
Apple's new AI features have contributed to the rise in Arm Holdings' stock, indicating the significant role of AI in driving demand for smartphone components.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Arm Holdings shares have surged over 50% in the last month due to AI advancements in smartphones and an upcoming inclusion in the Nasdaq 100 Index. B of A Securities raised its price target to $180, contributing to the bullish sentiment.
The stock's recent surge is attributed to significant AI advancements in smartphones, particularly from major customer Apple, and the upcoming inclusion in the Nasdaq 100 Index. The raised price target from B of A Securities further supports the bullish outlook.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100