BofA thinks the semiconductor cycle has a lot more room to run, with industry revenues potentially crossing $1 trillion by 2026, mainly driven by AI spending. The interesting part is they see this as mid-cycle, not the top. According to the Yahoo Finance piece, the focus is on companies with real pricing power and must-have exposure across the AI stack, not just hype names.

The stocks BofA is most constructive on:

$NVDA 

$AVGO 

$LRCX 

$KLAC 

$ADI 

$CDNS 

If AI capex keeps ramping the way it has been, these names look well positioned going into 2026.