LRCX - 1 Hot Nasdaq Stock to Buy Hand Over Fist Before It Soars at Least 25% Thanks to the Artificial Intelligence (AI) Boom
2024-05-05 03:50:00 ET
The Nasdaq-100 Technology Sector index has gained an impressive 50% in the past year, driven mainly by the growing demand for artificial intelligence (AI)-related hardware and software that has led to a sharp spike in the share prices of many companies.
The good part is that the Nasdaq's AI-driven surge is here to stay. Big tech players such as Alphabet and Microsoft recently posted robust growth in their earnings thanks to AI. More importantly, history indicates that the Nasdaq's upward trajectory is sustainable this year .
That's why investors would do well to buy shares of Lam Research (NASDAQ: LRCX) , a Nasdaq-100 component that has jumped 77% in the past year -- and can still deliver strong gains, as its latest results show. Let's look at the reasons why.
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1 Hot Nasdaq Stock to Buy Hand Over Fist Before It Soars at Least 25% Thanks to the Artificial Intelligence (AI) Boom