CNBC Daily Open: Fed signals possible rate cut; Wall Street soars; oil gains as Middle East tensions rise
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 01 2024
0mins
Source: CNBC
Federal Reserve and Market Reactions: The Federal Reserve maintained its benchmark interest rate but hinted at a potential cut in September, leading to a rally in U.S. stocks, with the S&P 500 rising 1.58% and Nvidia shares soaring 12.8% after positive earnings from competitors.
Corporate Earnings and Global Events: Meta reported strong second-quarter results, while oil prices increased due to geopolitical tensions following the assassination of a Hamas leader; additionally, Japan intervened in currency markets to support the yen amid volatility.
Analyst Views on ARM
Wall Street analysts forecast ARM stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ARM is 173.44 USD with a low forecast of 120.00 USD and a high forecast of 215.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
20 Analyst Rating
14 Buy
4 Hold
2 Sell
Moderate Buy
Current: 119.200
Low
120.00
Averages
173.44
High
215.00
Current: 119.200
Low
120.00
Averages
173.44
High
215.00
About ARM
Arm Holdings plc is engaged in operating a global computing platform. It architects, develops, and licenses high-performance and energy-efficient Arm compute platforms. The Company’s principal operations and activities are the licensing, marketing, research and development of central processing unit (CPU) design intellectual property (IP), graphics processors, system IP, market optimized platform IP, and associated software, tools and other related services. Its complementary products include GPU and NPU accelerators, interconnect, and others. Its primary product offerings are CPU products that address diverse performance, power, and cost requirements. It offers a family of GPU and NPU products providing efficient computing acceleration and an optimal visual experience across a wide range of devices. Its CPU, GPU, and System IP products integrated into a foundational compute platform optimized for a specific end market.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
