Arm Holdings (NASDAQ: ARM) went public on Sept. 14, 2023, seven years after it was acquired by the Japanese conglomerate SoftBank Group. The British chip designer listed its shares at $51, but they still trade at only $54 as of this writing.

Arm's high valuations, the cyclical slowdown of the smartphone market, and questions about its long-term growth potential all prevented the bulls from rushing in. But could this bellwether of the semiconductor sector rally over the next 12 months?

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Source Fool.com