The analyst discusses ARM Holdings, noting its revenue increase from $2 billion in 2021 to $4 billion in the recent trailing 12-month period, resulting in a compounded annual growth rate of 20%. Management projects revenue growth of 20% for the next 2-4 years, driven by market share gains over the x86 infrastructure for data centers and computing devices. ARM's architecture benefits from power consumption efficiency, crucial for AI data centers. Despite revenue growth, the return on invested capital declined from 30% in 2022 to 3% in 2024 before improving to 12.8%. The company is investing in its employee and talent base to meet increasing demand. Based on a discounted cash flow model, the analyst estimates an intrinsic value of $83.50 per share, while the current market price is $136.78 leading to a hold rating.