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Benzinga
Benzinga
Business
Anusuya Lahiri

BofA Coins New FANG Equivalent For Semiconductor Stocks, 'MANGO'

BofA Mango Vivek Arya United States Nasdaq
  • BofA analyst Vivek Arya's recent discussions with investors about the U.S. Semiconductors sector have "overwhelmingly" been focused more on cycle worries such as peaking demand and rising Capex than company fundamentals.
  • Arya coined a FANG equivalent, "MANGO," or Marvell Technology Inc (NASDAQ:MRVL), Broadcom Inc (NASDAQ:AVGO), Advanced Micro Devices Inc (NASDAQ:AMD), Analog Devices Inc (NASDAQ:ADI), NVIDIA Corp (NASDAQ:NVDA), GLOBALFOUNDRIES Inc (NASDAQ:GFS) and ON Semiconductor Corp (NASDAQ:ON). 
  • He believes that these semi stocks are "levered to the right end-markets with solid demand visibility and consistent execution."
  • CNBC's "Mad Money" host Jim Cramer coined FANG Stocks in 2013, which implied Meta Platforms Inc (NASDAQ:FB) (formerly Facebook), Amazon.com Inc (NASDAQ:AMZN), Netflix Inc (NASDAQ:NFLX), and Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL). FANG became FAANG in 2017 by adding Apple Inc (NASDAQ:AAPL).
  • Price Action: MRVL shares traded lower by 0.27% at $73.56 on the last check Friday.
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