Dain Rauscher Wessels Initiates Coverage of ARM Holdings with a Buy Rating.Business Editors MINNEAPOLIS--(BUSINESS WIRE)--March 24, 2000 Dain Rauscher Wessels equity analyst Jennifer Smith There are at least six prominent individuals named Jennifer Smith:
in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ARMHY), $171.06, with a Buy-Speculative Risk rating. Smith has a 12-month price target of $200. "ARM Holdings is the leading provider of embedded processor A CPU chip used in a system other than a general purpose workstation, desktop or laptop computer. Such chips are used by the billions every year in a myriad of products. See embedded system. cores to the systems-on-a-chip market that has seen tremendous price escalation in the past six months as the value of the semiconductor industry has been recognized," Smith said in a report. "ARM gained an early lead in the embedded processor market by attracting mobile phone manufacturers with small, but fast chips that consume little power," Smith said. "Through licensees such as TI and Philips, ARM processors can be found in mobile phones from all the major handset equipment providers worldwide, including Nokia, Ericsson, Qualcomm and NEC (NEC Corporation, Tokyo, www.nec.com, www.necus.com) An electronics conglomerate known in the U.S. for its monitors. In Japan, it had the lion's share of the PC market until the late 1990s (see PC 98). NEC was founded in Tokyo in 1899 as Nippon Electric Company, Ltd. . We believe that ARM's goal is to extend its position as the standard in mobile phones to its licensees, addressing other diversified markets." Institutional investors interested in receiving more information should contact their Dain Rauscher Wessels salesperson. Media interested in receiving the research report should call (612)371-7752. The Dain Rauscher Wessels division includes equity research, equity trading In finance, equity trading is the buying and selling of company stock shares. Shares in large publicly-traded companies are bought and sold through one of the major stock exchanges, such as the New York Stock Exchange, London Stock Exchange or Tokyo Stock Exchange, which serve as , institutional equity sales and corporate finance. The division's 38 analysts focus on five industries: consumer, energy, financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , health care and technology. Currently, the analysts follow more than 400 companies. The division, which employs 350 people, has offices in Austin, Texas; Boston; Chicago; Dallas; Houston; Menlo Park, Calif.; Minneapolis; New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. ; San Francisco; Seattle; and Tel Aviv, Israel(a). Minneapolis-based Dain Rauscher Incorporated provides investment services to individual investors and small businesses through offices in 26 predominantly western states, investment banking services to corporations and municipalities nationwide, and trade clearing and settlement services to non-affiliated broker-dealers throughout the United States and abroad. Dain Rauscher Incorporated, one of the nation's largest full-service securities firms, is a member of the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. and other major securities exchanges, as well as the Securities Investor Protection Corp. 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