Bank of America says these 4 tech stocks are poised to soar as global economies reopen – including 2 that will become market leaders in the race to solve the semiconductor chip shortage

• Dutch rivals ASML and ASMI will outperform their peers as demand for their chips takes off.
• Semiconductor sales as a whole are expected to gain by $532 billion, according to Bank of American analysts.
• Suppliers to the automotive and industrial businesses are already cashing in from chip sales.

One of the most immediate effects of the COVID-19 pandemic on the corporate world has been the ensuing global shortage of semiconductor chips, which has highlighted the need for more effective global supply chains. This technology underlies a number of vital advancements in healthcare, computing, transportation and other key sectors. They’re used in everything from computers and smartphones, to cars and telecommunications.

As companies around the world sound the alarm on production delays, the semiconductor sector is heading for a boom based on a number of factors, according to Bank of America in a recent note.

The bank’s analysts noted structural growth driven by the rise of the digital economy, cyclical growth from current semiconductor shortages and silicon sovereignty.