New for subscribers: Here are Bank of America's top chip stock picks for the second half Check out CNBCPro for a free trial.
Bank of America is bullish on chip stocks in the second half of 2020.
The Wall Street firm says a group of semiconductor names have secular tailwinds, including artificial intelligence, 5G, cloud and gaming. Plus, the chip stocks have strong balance sheets and solid free cash flow generation. Bank of America expects the group — which already has strong year-to-date performances — to continue its run-up.
"Until we see firm signs of economic reopening/vaccines and/or higher treasury yields, growth could continue to outperform," Bank of America research analyst Vivek Arya told clients. "The Darwinian nature of technology suggests only companies that grow can reinvest and strengthen their competitive moats, while central bank liquidity continues to support higher valuations," Arya added.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'Big beat ahead' - Bank of America sees better-than-feared earnings and these stocks leading the wayNew for subscribers: 'Big beat ahead' - Bank of America sees better-than-feared earnings and these stocks leading the way Check out CNBCPro for a free trial.
Read more »
Deutsche Bank Fined $150 Million for Ignoring Suspicious Epstein TransactionsRegulators state that Deutsche Bank “inexcusably failed to detect or prevent millions of dollars of suspicious transactions” in Epstein’s account.
Read more »
Deutsche Bank is fined over Jeffrey Epstein lapsesDeutsche Bank is fined $150 million over compliance lapses including lax oversight of sex offender Jeffrey Epstein's financial dealings.
Read more »
Deutsche Bank maintained accounts for Jeffrey Epstein despite 'red flags': RegulatorsNEW: Deutsche Bank maintained its relationship with disgraced financier Jeffrey Epstein despite multiple “suspicious transactions” and “red flags” that could have been related to his alleged sex trafficking operation, New York officials say.
Read more »
Deutsche Bank to pay $150 million for dealings with Jeffrey Epstein, foreign banksDeutsche Bank will pay $150 million in penalties to settle an investigation that found the financial institution processed hundreds of suspicious payments worth millions of dollars from accounts belonging to Jeffrey Epstein.
Read more »
Epstein red flags, Russian models land Deutsche Bank $150 million fineDeutsche Bank will pay a $150 million fine from a New York regulator for allowing disgraced financier Jeffrey Epstein to make payments to Russian models and withdraw suspicious amounts of cash during five years as a client.
Read more »