Arm Surges on New $300 Price Target: ARM Stock Is at the ‘Center of the Renaissance’ in CPUs

Arm Holdings (ARM) shares rallied on Wednesday after Bernstein initiated coverage on the British chip designer with an “Outperform” rating and a rather bold $300 price target.

The upward momentum drove ARM’s relative strength index (RSI) into the late 60s, signaling the stock is now approaching overbought territory, which often triggers a near-term pullback.