JPMorgan Highlights Nvidia, Broadcom, Micron as Leading AI Chip Plays for 2026
JPMorgan has positioned Nvidia, Broadcom, and Micron as its top semiconductor selections ahead of earnings season, anticipating robust performance through 2026. Analyst Harlan Sur projects in-line or better Q4 results across the sector, with AI accelerator spending forecast to exceed $200 billion by 2025—growing at a 50% compound annual rate.
Nvidia maintains an 80-90% stranglehold on the AI accelerator market, with its Q4 earnings slated for February 25. Micron shares have surged 40% year-to-date amid insatiable demand for high-bandwidth memory, though current production meets just 50-67% of customer requirements.
The firm maintains overweight ratings on Marvell Technology, Analog Devices, KLA Corp, and Synopsys, while favoring MACOM Technology Solutions and Astera Labs among small-caps. Semiconductor industry revenue could climb over 15% this year as AI infrastructure investments accelerate.
