The big issue for ARM (why I sold at 260)....

The business case for ARM is its CPU chip, nothing else matters. While it sees $2B pipeline, I think it will take time and face supply chain constraint to get there. At 260, its forward PE is 100, valuation a bit too much and risk of other macro events until all these are converted from PPT to delivered product.

The earning conference call confirmed my worry

Will get back to ARM when opportunity shows up again