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ARM Holdings Plc (NASDAQ:ARM) shares are trading higher after Morgan Stanley analyst Lee Simpson upgraded the stock from Equal-Weight to Overweight and raised its price target from $107 to $190.
The upgrade comes as the broader semiconductor sector has seen a selloff this week following Donald Trump’s verbal attack against contract chipmaker Taiwan Semiconductor Manufacturing Co (NYSE:TSM) and the U.S.’s plans to intensify advanced semiconductor sanctions against China.
AI chip stocks led by Nvidia Corp (NASDAQ:NVDA), Advanced Micro Devices, Inc (NASDAQ:AMD) lost 9% and 18% this week.
At the Computex forum in Taipei, Arm CEO Rene Haas said he expects 100 billion Arm devices worldwide …
Full story available on Benzinga.com
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