On July 29, Arm (ARM) delivered a record quarter. At these levels, the market is pricing in years of strong growth with very little room for error. Wells Fargo analyst Joseph Quatrochi had only recently lowered ARM's price target from $410 to $350. RBC analyst Srini Pajjuri also lowered the stock's price target from $475 to $340 while reiterating a "Buy" rating. ARM stock currently enjoys a consensus "Moderate Buy" rating from 31 Wall Street analysts covering it.