Stocks including Nvidia and Apple are top picks as market run-up continues, Bank of America says - CNBC

Bank of America has identified NVIDIA and Apple stocks as top picks amid an ongoing market rally. This recommendation is grounded in the strong performance and market leadership of both companies. NVI... Read original →

Bank of America’s bullish stance on NVIDIA and Apple reflects a strategic bet on the structural synergy between AI infrastructure and premium consumer electronics. Technically, NVIDIA’s Hopper and Blackwell architectures are spiking demand for advanced packaging, high-speed interconnects, and liquid cooling—straining TSMC’s (Taiwan, China) CoWoS capacity and accelerating its expansion. Apple’s in-house silicon strengthens its leverage over 3nm/2nm nodes, squeezing Qualcomm and MediaTek. On compliance, U.S. export controls have raised NVIDIA’s China-specific chip costs by 15–20%, while Apple’s supply chain diversification to India and Vietnam increases yield management expenses. Competitively, AMD is targeting training workloads with MI300X, and Intel is undercutting with Gaudi 3 via cloud partnerships. Over the next 12–24 months, AI capex will shift from raw compute to system-level integration—only firms with full-stack optimization will capture sustained alpha.