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

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Market Vectors Semiconductor ETF (NASDAQ: SMH) Delayed: 584.08 +25.25 (4.52%)
Previous Close $558.83    52 Week High $70.21 
Open $580.96    52 Week Low $45.03 
Day High $586.00    P/E N/A 
Day Low $572.05    EPS $0.00 
Volume 7,127,231       

iShares PHLX SOX Semiconductor Sector Index Fund (NASDAQ: SOXX) Delayed: 552.69 +28.55 (5.45%)
Previous Close $524.14    52 Week High $114.21 
Open $549.09    52 Week Low $74.84 
Day High $555.16    P/E N/A 
Day Low $540.15    EPS $0.00 
Volume 10,175,904