ASML - Why Lam Research ASML and Other Semiconductor Stocks Rallied Today
2023-07-27 17:03:35 ET
So much of what is happening in the stock market these days is tied to advancements in artificial intelligence (AI) . On the heels of their worst performances in more than a decade, the major market indexes are now squarely in rally mode, driven by the prospects of widespread productivity gains resulting from generative AI.
With that as a backdrop, on Thursday chipmaking tools supplier Lam Research (NASDAQ: LRCX) surged 9.3%, semiconductor equipment systems provider ASML Holding (NASDAQ: ASML) rallied 3.5%, and chipmaker Advanced Micro Devices (NASDAQ: AMD) closed the trading day up by 1%.
Lam Research reported robust results fueled by a surge in demand, which the company attributed to the ongoing AI boom.
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Why Lam Research, ASML, and Other Semiconductor Stocks Rallied Today