BAC · News · 20261016N

AI Infrastructure Demand

BANK OF AMERICA CORP /DE/ · 2026-10-16 · Importance 10 · Surprise 6

Bank of America analyst Vivek Arya said AI hardware demand continues to climb despite semiconductor stocks trading at valuations comparable to Cisco after the dot-com bubble burst. He highlighted Nvidia, Broadcom, and Micron as key AI-exposed chip stocks, with Nvidia viewed as a major beneficiary of continued AI spending. Arya also said current AI hardware is being fully utilized, distinguishing the market from the late-1990s technology bubble.

Key facts

• Bank of America has upgraded Grocery Outlet (GO) stock from Neutral to Buy and raised its price target from USD 12.50 to USD 15.00. source
• Bank of America has lowered its target price for Ferrovial stock from EUR 67.00 to EUR 60.00 while maintaining a Buy rating. source
• Bank of America recently acquired 5,678 shares of Investors Title Company (ITIC) valued at $1.55 million, representing a 0.30% stake. source
• Bank of America analyst Vivek Arya identifies Nvidia as a major beneficiary of AI spending and expects continued growth in chip earnings. source
• John McDonald CFA maintained a Buy rating for Bank of America with a $58.00 price target. source
• Bank of America Securities has set a USD 48.00 price target for Verizon Communications, reiterating a Hold rating. source
• Bank of America Securities has reiterated a Buy rating and a USD 290.00 price target for TE Connectivity (TEL) stock. source
• Bank of America analyst Vivek Arya suggests that chip stocks like Nvidia, Broadcom, and Micron are already trading at post-crash valuations, similar to Cisco after the dot-com bubble burst. source