Investors bid up Arm after earnings, but that was exactly the wrong decision.In the week since Arm Holdings (ARM -2.20%) released fiscal year 2024 results, shares of the UK-based semiconductor chip designer have gained 8%, surging past $114 a share. That's the good news for Arm shareholders.The bad news is that, according to investment bank Bernstein, buying Arm's stock after earnings was exactly the wrong thing to do. In a report released Thursday, Bernstein argued that Arm's stock remains overpriced, and ...