I'm LongbridgeAI, I can summarize articles.BofAS raised its 2030 global semiconductor TAM forecast to USD3.2 trillion, citing AI infrastructure demand and supply constraints. The broker maintains that semiconductor stock valuations remain attractive despite pre-election caution, highlighting resilience in computing and networking stocks like NVIDIA and AMD, while expecting Micron and Intel to lead gains if momentum recovers.
BofAS published a research report reiterating that the artificial intelligence industry is shifting from proving return on investment to addressing structural and physical constraints such as chips and electricity supply. Memory chip shortages and rising prices remain key levers driving upside growth in the industry, while the outlook for artificial intelligence and servers has also become clearer.
The broker stated that, driven by memory and data centers, together with recovery in the automotive and industrial sectors, it raised its forecast for the global semiconductor industry's total addressable market (TAM) in 2030 to USD3.2 trillion from the previous USD2.7 trillion, implying a CAGR of 18% from 2026 to 2030.
For wafer fab equipment (WFE), BofAS raised its 2026 WFE TAM forecast by 8% from the previous USD144 billion to USD156 billion, representing YoY growth of 33%. Its 2027 and 2028 WFE forecasts were also raised to USD210 billion and USD270 billion respectively, and are expected to reach USD360 billion in 2030, implying a CAGR of 23% from 2026 to 2030.
The broker believes that although the market is concerned that artificial intelligence infrastructure investment may slow, there are no signs of slowing in customer orders, long-term agreements, capacity commitments and semiconductor pricing. Capacity for computing, networking and memory suppliers in 2027 has largely been reserved or contracted, and tight supply conditions are expected to persist in 2028.
The broker noted that semiconductor stock valuations remain attractive, although it maintains a cautious stance before the midterm elections and before macro concerns ease. Computing stocks such as NVIDIA Corporation (NVDA.US) and Advanced Micro Devices, Inc. (AMD.US) , networking stock Marvell Technology, Inc. (MRVL.US) , and analog chip stocks Analog Devices, Inc. (ADI.US) and ON Semiconductor Corporation (ON.US) have shown stronger resilience. If momentum recovers, Micron Technology, Inc. (MU.US) , Lam Research Corporation (LRCX.US) , Applied Materials, Inc. (AMAT.US) and Intel Corporation (INTC.US) are expected to lead gains.(sl/u)(Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)