Chip stocks are closing in on a bull market. Here’s why some analysts are nervous.

Chip stocks are seeing a surge as Wall Street gets enthusiastic about the increasing backlogs in AI infrastructure companies, signaling a potential bull market. However, some analysts are wary because there's no certainty that all these orders will actually materialize, which could temper the optimism. This uncertainty is crucial because the semiconductor industry's performance directly influences global tech supply chains and economic growth, so any misstep could have widespread repercussions.