ARM Holdings in Line to Meet Full Year Guidance After Solid Quarter
ARM Holdings reported strong third-quarter earnings and gave investors a solid, but not spectacular, fourth-quarter outlook that was relatively in line with our expectations. We will maintain our moat rating for ARM but may raise our fair value estimate by about 10%. Nonetheless, we still believe the company’s stock price reflects overly optimistic assumptions about long-term royalty growth, particularly from PCs and servers. ARM’s revenue … Continue reading ARM Holdings in Line to Meet Full Year Guidance After Solid Quarter