Bank of America Analyst Bullish on AI Chip Companies Amid Market Correction
- Nvidia (NVDA) could rise from $208 to $350, a potential increase of over 68%.
- Credo (CRDO) is expected to increase by more than 7% from its Tuesday close of $234.
- Analog Devices (ADI) has a target price of $460, up over 13% from $404.
- Texas Instruments (TXN) is projected to reach $370, a rise of more than 28% from its current price of $288.
- The analyst notes that demand for AI infrastructure remains exceptionally high with no unused GPUs available.
The semiconductor industry is poised for growth as companies plan for sustained demand in AI chip production over the next few years. With strong demand and disciplined supply chains, firms like Nvidia and Micron are currently undervalued compared to their growth potential.
Analyst Vivek Arya emphasizes that the semiconductor market will benefit from ongoing AI infrastructure needs and strategic planning. This positions key players for significant future gains. (Source)
