Semis bubble? Software cheap? Why BofA's Subramanian disagrees

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Market Vectors Semiconductor ETF (NASDAQ: SMH) Delayed: 569.77 -24.3 (4.09%)
Previous Close $594.07    52 Week High $70.21 
Open $574.35    52 Week Low $45.03 
Day High $577.76    P/E N/A 
Day Low $562.63    EPS $0.00 
Volume 11,360,299       

iShares PHLX SOX Semiconductor Sector Index Fund (NASDAQ: SOXX) Delayed: 531.39 -27.73 (4.96%)
Previous Close $559.12    52 Week High $114.21 
Open $537.42    52 Week Low $74.84 
Day High $541.70    P/E N/A 
Day Low $523.03    EPS $0.00 
Volume 9,990,302