The tech stocks free fall doesn’t make any sense, BofA says in rebuke to investors while doubling down on the sector’s longevity

As semiconductor stocks undergo another bout of severe volatility, Bank of America Global Research has issued a sharp rebuke of prevailing market sentiment, labeling fears driving the current tech-sector selloff as logically impossible. In a note released Tuesday, analysts argued that investors are currently pricing in what Fortune‘s Jim Edwards called a “freefall” based on beliefs that BofA considers “internally inconsistent.”

BofA senior analyst Vivek Arya’s team put together the note...