BofA says the chip reshuffle makes Nvidia a 'compelling' value play

The semiconductor sector is bracing for a game of musical chairs, and the best seat might be the most obvious, says Bank of America's Vivek Arya. "Our preferred compute names NVDA, AVGO, AMD and CRDO are projected to grow sales on average at a 42%," Arya wrote in a recent note to clients. Despite their massive reach, Arya argues that these cloud chip giants are trading at a "notably compelling valuation backdrop" of just 0.5x their price-to-earnings growth (PEG) ratio. For an industry often accused of ...