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BofA says higher yields hurt AI rally as hyperscaler capex targets $1.2 trillion

Oct 30, 2026 10:56 (4h ago)

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Bank of America strategists said higher yields are restraining the AI stock rally.
Hyperscaler capex is forecast to rise from $240 billion in 2024 to $1.2 trillion in 2027.
BofA identified $70 for MAGS and $520 for SMH before a year-end rally can begin.