<div id="readability-page-1">Bubble warning signs: BofA’s Michael Hartnett says semiconductor valuations now resemble some of history’s most extreme asset bubbles. Historic deviation: SOX index trades 62% above its 200-day moving average, exceeding dot-com era levels. Macro and sector risks: Inflation, potential Fed hikes, and energy-driven consumer strain could challenge high-valuation sectors like semiconductors.</div>

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<p>BofA's Michael Hartnett warns that semiconductor valuations are reminiscent of historic asset bubbles, with the SOX index trading 62% above its 200-day moving average, surpassing dot-com levels. He highlights macro risks such as inflation, potential Fed hikes, and consumer strain that could impact high-valuation sectors like semiconductors.</p>

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BOFA warns semiconductor rally mirrors historic bubbles