Bank of America raised its semiconductor total addressable market forecast to $3.2 trillion by 2030, up from a previous estimate of $2.7 trillion. The compound annual growth rate for the 2026 to 2030 period was revised upward from 14% to 18%. Wafer fabrication equipment spending is now projected at $156 billion for 2026, up from $144 billion, and is expected to reach $360 billion by decade’s end. This revision is driven by sustained demand for memory chips and data-center components, directly tied to AI infrastructure buildout. Nvidia, AMD, Marvell, Micron, Lam Research, Applied Materials and Intel were highlighted as particularly well-positioned names.
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