Evercore ISI initiated coverage of Arm with an Outperform rating and $156 price target. The firm views Arm as a play on three “tectonic” shifts in computing, namely in the cellphone, as AI workloads demand more processing power; in the datacenter, as the center of gravity of CPUs shifts from x86 to Arm; and in internet-of-things, as a 10x unit growth play.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ARM:
- Biden, PM Kishida enlist companies to fund joint AI research, Bloomberg says
- Street encouraged by Google’s new AI offerings, BofA not worried about Nvidia
- Google introduces Arm-based Axion Processors
- UK Stocks: Shell (SHEL) Mulls Exiting London, Eyes New York Listing
- Microsoft thinks Arm-powered Windows laptops better than MacBook Air, Verge says