LRCX - Lam Research: A Strong Buy for Investors in the Semiconductor Industry
2023-07-07 09:53:00 ET
Lam Research (NASDAQ: LRCX) stock dropped 41% in 2022 after weathering a host of challenges, including inflation, a rising interest rate environment, U.S. export restrictions on chipmaking tools to China, and a downturn in the memory chip market toward the end of the year.
Now, the stock is on the rise again, with investors becoming increasingly optimistic about a potential end to interest rate hikes and an anticipated recovery in the memory chip market by 2024. As a result, the first half of 2023 has seen Lam Research's stock jump 54%.
You might be hesitant about investing in Lam after the stock's big run and in uncertain economic environment with various risks on the table. But if you are a long-term investor, it could be worth these risks to buy a few shares. Here's why.
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Lam Research: A Strong Buy for Investors in the Semiconductor Industry