Why BofA Just Turned Neutral on Arm Holdings plc (ARM)

Arm Holdings plc (NASDAQ:ARM) is among the most promising growth stocks according to analysts. On January 13, Vivek Arya at BofA downgraded Arm Holdings plc (NASDAQ:ARM) to ‘Neutral’ from ‘Buy’ and maintained a $120 price target, according to TheFly. The analyst believes global smartphone units could witness a dip in the low single digits YoY due to high memory costs and supply issues, which will adversely impact ARM Client royalty sales. Since Reuters announced that Arm Holdings plc (NASDAQ:ARM)’s restr ...