On July 15, ARM Holdings declined 3.17% in regular trading, trading at 274.08 USD/share, with turnover of $534 million. The stock continued to face selling pressure as the aftermath of HSBC's rating downgrade from the prior session weighed on sentiment alongside sector-wide weakness.

HSBC downgraded ARM from Buy to Hold on the previous trading day, while simultaneously raising its price target from $255 to $315. The bank noted that ARM's share price had surged 122% since the March Arm Everywhere product launch, far outpacing the Philadelphia Semiconductor Index's 57% gain over the same period, indicating current valuations have fully priced in long-term growth expectations. The report also flagged global wafer foundry capacity bottlenecks as a constraint on near-term server CPU profit realization, extending the earnings delivery timeline.

The broader semiconductor sector declined in tandem, with Micron Technology falling 7.16%, Intel down 5.22%, and Advanced Micro Devices losing 5.33%, amplifying systematic selling pressure on ARM.

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