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Chip Stocks Dip But AI Demand Soars | Durham News
Bank of America’s Vivek Arya warns the semiconductor index could drop 10%—but sees it as a buying opportunity, bringing valuations back to pre-AI hype levels. Real-world hurdles like data center slowdowns in New York, Pennsylvania, and Texas are emerging, contrasting with last year’s rapid build-out. Still, Arya backs the sector’s fundamentals, citing strong Q4/Q1 trends and undervalued P/E ratios against projected growth, naming eight potential buys. Nvidia crushed earnings and guidance despite Bank of America’s earlier caution over cash spending on OpenAI. Yet, the bank is doubling down on…
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