Arm’s $180 Billion Leap Makes It One of Market’s Priciest Stocks

Arm Holdings Plc has been a relatively expensive stock since the company first issued American depositary receipts in 2023. But a wild surge that has nearly doubled the share price in a matter of weeks is pushing the valuation to levels investors rarely see.

The Cambridge, UK-based chip designer’s ADRs have been hot all year, soaring 244% in 2026, fueled by enthusiasm for its plans to build its own chips for the first time. It’s outperforming all but two members of the S&P 500 Index, and is the second-best company in the high-flying Philadelphia Stock Exchange Semiconductor Index ...