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Nvidia, ON Semi, AMD Among Bank of America's Top Chip Stocks

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It’s been a tough 2022 for semiconductor shares amid fears of a pointy financial slowdown that may depress chip demand.

The PHLX Semiconductor Sector index has dropped 22% yr so far.

But Bank of America analysts see some causes for optimism.

“Macro factors can enhance stock volatility,” they stated in a commentary. But “the recent 36% peak-to-trough [price-to-earnings-multiple] contraction in the semiconductor index (versus a 27% downturn historically) already reflects a medium-sized recession,” the analysts stated.

Source: www.thestreet.com

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