Bank of America removes Lam Research, Micron and Nvidia from its US 1 top‑stock list
+4 new sources since this summary was written
Bank of America took Lam Research Corp., Micron Technology and NVIDIA off its US 1 list of highest‑conviction ideas while keeping Buy ratings on all three. The removal was linked to supply‑chain constraints, valuation adjustments and a desire to reallocate limited list space. Lam Research reported first‑quarter fiscal 2027 revenue of $8.22 billion and EPS of $2.20. Micron’s shares closed at $733 on the day of the change, up 6.25%. Analyst Vivek Arya projected 2026 cloud‑infrastructure capital spending of about $1.01 trillion.
Why it matters
The removal signals reduced short‑term conviction from BofA, which may temper investor enthusiasm for the stocks despite the continued Buy ratings. Analysts’ price‑target cuts for Lam Research reflect concerns over supply‑chain constraints and valuation, potentially limiting upside.
Key facts
- 1Bank of America removed Lam Research, Micron and NVIDIA from its US 1 list. investing.com
- 2The three companies retain Buy ratings after removal. cryptobriefing.com
- 3Lam Research reported Q1 fiscal 2027 revenue of $8.22 billion and earnings per share of $2.20. investing.com
- 4Micron’s stock closed at $733 on November 10 2026, up 6.25% on the session. cryptobriefing.com
- 5Analyst Vivek Arya expects cloud‑infrastructure capital expenditures of about $1.01 trillion in 2026. cryptobriefing.com
- 6BofA cited supply‑chain constraints and valuation adjustments as reasons for the removals. investing.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.