Chip stocks, once a hot favorite among investors, are doing poorly this year . The iShares Semiconductor ETF is down around 31% so far this year – lagging even the broader market. The S & P 500 has tumbled around 17% year-to-date. But BofA says that despite consumer demand remaining under pressure, the "bull case for semis is also compelling." In a Nov.
"Supply constraints are bringing automakers and chip suppliers strategically closer, with better long-term planning and stronger pricing," it said. BofA's stock pick to play this trend is ON Semiconductor .
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BofA deez nuts
bofa deez nuts
Now? After the significant runup? Didn’t you just run a story that chips are frothy?