Nvidia and 2 Other Chip Stocks to Buy Following ‘Liberation Day,’ According to Analysts

President Donald Trump’s reciprocal tariffs have not spared even the high-flying chip industry, which powers various applications of artificial intelligence (AI) across industries. A key indicator of this has been the fall seen in the VanEck Semiconductor ETF (SMH). While the SMH ETF is down 16.3% on a YTD basis, the S&P 500 Index ($SPX) has corrected by a much lower 7.9%.

However, since the semiconductor industry remains on course to gain increasing traction in the coming years, analysts at Bank of America think the recent decline can be used as an opportunity to load up on the shares of companies with “solid balance sheets and strong fundamental exposure in AI, cloud, and complex computing.”