RBC Capital analyst Srini Pajjuri initiated coverage of Arm (ARM) with an Outperform rating and $140 price target CSS adoption is a material tailwind to average selling prices, and Arm is also making solid progress in Data Center, the analyst tells investors in a research note. While higher Memory prices could impact Smartphone demand, the company’s 20% royalty growth is sustainable on selling price strength, and the firm views the recent pullback as an “opportunity”, RBC added.
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