Why Arm Holdings Stock Jumped 39% in April
Shares of Arm Holdings (NASDAQ: ARM) jumped last month as investors bought into its new plans to make its own chips, and the narrative that CPU demand was soaring took hold, especially after Intel reported its first-quarter earnings report.
Arm announced that it was developing its own chip for the first time in late March, the Arm AGI CPU, and after an initial bounce on the news, the stock cooled off. However, as tensions in the Middle East eased in April, investors returned to risk-on stocks like Arm, and positive analyst notes began to roll in.
According to data from S&P Global Market Intelligence, the stock finished the month up 39%. As you can see from the chart below, the stock really soared after Intel's report came out late in the month.
Source Fool.com
Intel Corp. Stock
Our community is currently high on Intel Corp. with 46 Buy predictions and 25 Sell predictions.
On the other hand, the target price of 70 € is below the current price of 88.62 € for Intel Corp., so the potential is actually -21.01%.
