Analysts once again spurred a notable move in the company's share price.
The influence wielded by analysts was never more apparent than in the movements experienced by ARM Holdings shares in recent days.
With investor worries mounting over the threat posed by Intel, the FTSE 100 microchip designer has been of particular interest to the research community of late.
Only last week, experts at Numis Securities and Bernstein Research were sounding warnings about the American company, with analysts at the latter arguing that there was “a great deal of evidence” Intel was becoming a rival to ARM. Nick James at Numis estimated marked falls in the British company's share of the smartphone and tablet markets. Both assessments were enough to convince traders to send ARM sharply south.
Today, ARM was once again under the microscope, although this time it was a more upbeat appraisal of the Cambridge-based company's prospects that instead served to push the shares back in the opposite direction.
Despite acknowledging that Intel is a “material competitor” to the British firm, Julian Yates and James Goodman of Investec argued that “the current price implies material near-term market share losses which we see as unlikely”.