Bank of America removed Nvidia (NVDA), Micron Technology (MU), and Lam Research (LRCX) from its 'US 1' list. This list represents the firm's highest-conviction U.S. stock recommendations.
On November 10, 2026, Bank of America maintained 'Buy' ratings for all three chip companies. The bank's fundamental outlook on these stocks remains positive.
The bank characterized the change as a portfolio allocation decision. This move creates space for other holdings, rather than signaling a downgrade of the semiconductor firms' prospects.