Big Wall Street brokerages, including J.P.Morgan and Goldman Sachs, started coverage of Arm Holdings with their top ratings a month after its blockbuster market debut, expecting the chip designer to deliver strong revenue and earnings growth. However, since the British company surged almost 25% on its debut on the Nasdaq on Sept. 14, its stock has drifted to ultimately close at $54.08 on Friday, compared with its initial public offering (IPO) price of $56.10. The IPO had 30 underwriters, all of whom had to wait until Oct.

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