---
title: "BOFA warns semiconductor rally mirrors historic bubbles"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286644478.md"
description: "BofA's Michael Hartnett warns that semiconductor valuations are reminiscent of historic asset bubbles, with the SOX index trading 62% above its 200-day moving average, surpassing dot-com levels. He highlights macro risks such as inflation, potential Fed hikes, and consumer strain that could impact high-valuation sectors like semiconductors."
datetime: "2026-05-16T11:43:18.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286644478.md)
  - [en](https://longbridge.com/en/news/286644478.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286644478.md)
---

# BOFA warns semiconductor rally mirrors historic bubbles

Bubble warning signs: BofA’s Michael Hartnett says semiconductor valuations now resemble some of history’s most extreme asset bubbles. Historic deviation: SOX index trades 62% above its 200-day moving average, exceeding dot-com era levels. Macro and sector risks: Inflation, potential Fed hikes, and energy-driven consumer strain could challenge high-valuation sectors like semiconductors.

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