Bank of America Raises Semiconductor TAM Forecast to $3.2 Trillion

Bank of America reported on September 14, 2026, that it has increased its total addressable market (TAM) forecast for the semiconductor industry from $2.7 trillion to $3.2 trillion. The bank projects an 18% compound annual growth rate from 2026 to 2030, driven largely by memory chip demand. Sales for 2026 are expected to rise 113% year-over-year, with DRAM and NAND segments seeing significant growth. The firm maintains positive outlooks on companies including NVIDIA (NVDA), Micron (MU), and AMD (AMD).