The Gunners are widely expected to bring in a new striker this summer, as they look to improve upon their current options of Gabriel Jesus and Eddie Nketiah.
The pair have struggled to find their best form this season and have seemingly fallen behind Kai Havertz, who has been deployed as a centre-forward in recent times.
Jesus has had to settle for eight goals in 33 matches, while Nketiah has mustered six goals in 37 competitive appearances.
With Arsenal on the hunt for attacking reinforcement, recent speculation has suggested they are showing an interest in Isak.
Arsenal identify Isak as top targetAccording to The Independent, the Gunners have now made the Swedish marksman their top striker target for the upcoming transfer window.
The report suggests Arsenal considered a move in the January window, but opted against pursuing a deal because of their concerns over the Premier League's Profit and Sustainability Rules (PSR).
The Gunners are now set to step up their interest in the summer and have set a maximum fee they are willing to pay to sign him from Newcastle.
However, they are keen to avoid a drawn-out saga and will move on to other targets if they fail to make progress in negotiations with Newcastle.
Will Newcastle sell Isak?There has been a suggestion that Newcastle may sanction Isak's departure to raise funds for transfers due to the restrictions caused by the PSR regulations.
However, the Magpies are determined to keep the 24-year-old and could look to offer him a new contract in a bid to ward off potential suitors.
The Sweden international is enjoying a productive season,
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