Bank of America raises US semiconductor growth forecast

Bank of America has significantly raised its growth forecasts for the US semiconductor industry, driven by increasing demand for AI-related technologies. The bank now expects an average annual growth rate of 18 percent through 2030, up from its previous estimate of 14 percent.

Key growth drivers include memory chips, server CPUs, and cloud expenditures. The bank has increased its estimate for the addressable market to 3.2 trillion US dollars by 2030, compared to an earlier projection of 2.7 trillion US dollars. Additionally, wafer manufacturing equipment spending is expected to see substantial increases, with forecasts for 2027 rising to 210 billion US dollars from an initial estimate of 190 billion US dollars.