Bernstein initiates Arm as underperform. Here’s what the pros say
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Market Movers rounded up the latest reactions on Arm Holdings from Jim Cramer and Virtus Investment Partners’ Joe Terranova. Cramer discussed why he thinks Arm is too expensive, even as shares have recently declined. The stock climbed nearly 25% when it debuted last Thursday. Terranova talked about why he is still optimistic about the semiconductor space but prefers to own Broadcom over Arm. The chipmaker dipped 4.5% Monday after Bernstein initiated coverage of the stock with an underperform rating, saying it’s “too early” to call Arm an AI winner .
