Here's Why BofA Is Bullish On AMD, Nvidia - Advanced Micro Devices (NASDAQ:AMD), NVIDIA (NASDAQ:NVDA)

Advanced Micro Devices Inc (NASDAQ:AMD) and NVIDIA Corp (NASDAQ:NVDA) are likely to keep benefiting, BofA analyst Vivek Arya notes.
The graphics chip market is "still early in the upgrade cycle." The second half of the year should grow more robust as supply and mix improve.
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Analyst Vivek Arya, who has a Buy rating on both stocks, noted that the fourth-quarter gaming environment was "strong" with record discrete GPU sales of $3.66 billion, up 42% year-over-year, even with supplies falling 1% sequentially.
"We expect supply could remain constrained into the 2H 2022, which, in our view, could drive stronger for longer sales growth," the analyst added.
Price Action: AMD shares traded lower by 3.38% at $111.74 on the last check Wednesday.

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