Does Lam Research (LRCX) have what it takes to be a top stock pick for momentum investors? Let's find out.
The AI trade has gotten quite crowded in recent months, and though some of the names felt a notable increase in turbulence at the end of last week, I think it's too soon in the game to be ringing the alarm bell. Though various AI stocks have gone parabolic of late, there's still more of a sense of cautious optimism rather than outright euphoria surrounding AI-exposed tech stocks.
Recently, Zacks.com users have been paying close attention to Lam Research (LRCX). This makes it worthwhile to examine what the stock has in store.
The AI boom is here, and industry supplier Lam Research Corporation (LRCX) is gaining as the technology grows.
The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price.
Lam Research (LRCX) closed the most recent trading day at $1,038.50, moving +0.08% from the previous trading session.
Investors have gravitated to companies enacting stock splits during periods of uncertainty on Wall Street. More than a half-dozen high-profile businesses have announced or completed forward-stock splits since 2024 began.
Lam Research is the leading etch equipment company with over 40% market share in 2023. The memory market is recovering from a tough year in 2023, with significant growth in NAND and DRAM billings. Chinese equipment suppliers, such as Naura, are experiencing strong growth despite US sanctions.
The latest trading day saw Lam Research (LRCX) settling at $962.19, representing a -0.98% change from its previous close.
After reaching an important support level, Lam Research (LRCX) could be a good stock pick from a technical perspective. LRCX surpassed resistance at the 20-day moving average, suggesting a short-term bullish trend.
From a technical perspective, Lam Research (LRCX) is looking like an interesting pick, as it just reached a key level of support. LRCX recently overtook the 50-day moving average, and this suggests a short-term bullish trend.
Lam Research Corporation (NASDAQ:LRCX ) BofA Securities 2024 Global Technology Conference June 4, 2024 12:20 PM ET Company Participants Doug Bettinger - Executive Vice President and Chief Financial Officer Conference Call Participants Vivek Arya - Bank of America Merrill Lynch Vivek Arya This session, I'm Vivek Arya, I lead the semiconductor coverage at Bank of America Securities. I'm really delighted and honored to have Doug Bettinger, CFO of Lam Research, joining us this morning.