Arm Holdings: ARM stock sinks for fifth straight day

Arm Holdings is in a downtrend after four-sessionsell-off. Thursday might be its fifth consecutive down session with ARMdown more than 1%. Broader market is regaining traction with S&P 500 surfing higher. Philly Fed report shows US manufacturing expanding at fast clip. Arm Holdings stock opened lower on Thursday, aiming for its fifth consecutive losing session. ARM stock lost12% on Wednesday as the S&P 500 posted its fourth straight down session.

Evercore upgrades Arm’s price target On Tuesday, investment bank Evercore slapped an impressive $156 price tag on ARM stock, writing that the England-based firm is at the center of three market shifts. These are AI-enabled smartphones, AI-focused server CPUs and the Internet of Things. In regard to the server market, Arm’s “share has increased from near 0% in 2018 to approximately 5% in 2023, wrote analyst Mark Lipacis.

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