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The Bull Market Is Almost Back for Chip Stocks
Sandisk and other chip stocks were strong performers on Thursday.Credit: Omar Marques / SOPA Images / LightRocket via Getty ImagesKEY TAKEAWAYSChip stocks rallied Thursday, with the PHLX Semiconductor Sector nearing a new bull market.Bank of America analysts expect faster growth in the AI server chip market.Nvidia, a key player in AI, is close to its May highs and reports earnings on Aug. 26.After a steep July sell-off, investors are chipping in again.Chip stocks were some of the biggest gainers in the S&P 500 and Nasdaq Thursday, a day when markets rose broadly. Shares of SanDisk (SNDK)…
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