$LRCX Gaped Upward, Will hit Record High Soon?
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1. $Lam Research(LRCX)$ Shows Daily and Weekly Breakout After Earnings
Chip gear stocks surged Thursday after $Lam Research(LRCX)$ reported better-than-expected June-quarter results and gave an upbeat outlook.
2. What Drives $Lam Research(LRCX)$ ‘s Prices Higher
Benefit from AI, $Lam Research(LRCX)$ has gained the attention of value investors with its remarkable daily gain of 8.92% and a high Earnings Per Share (EPS) of $35.91.
$Lam Research(LRCX)$ is a key player in the semiconductor industry, specializing in manufacturing equipment used for semiconductor fabrication. It has been profitable for the past 10 years, with an impressive operating margin of 30.97%. The company’s average annual revenue growth is 26.6%, outperforming most companies in the Semiconductors industry.
$Lam Research(LRCX)$ is estimated to be fairly valued. The company has strong financial health, consistent profitability, and impressive growth. Major customers of $Lam Research(LRCX)$ include $Samsung Electronics Co., Ltd.(SSNLF)$ , $Micron Technology(MU)$ , $Intel(INTC)$, $SK Hynix, Inc.(HXSCL)$ & $Taiwan Semiconductor Manufacturing(TSM)$.
At least a dozen analysts raised their price targets on LRCX stock after the earnings report.( Arcuri reiterated his buy rating on LRCX stock and raised his 12-month price target to 750 from 725.)
3. More Discussion on $Lam Research(LRCX)$ ’s Future Trend and Target price
MMMCHARTING on @Twitter pointed that $Lam Research(LRCX)$ is loving the top of it’s trend line. But he is going to
TraderFlorida @Twitter saide: $LRCX - up $60.00 from next suggested buy entry. Projected price target $679.00 area. Congratulations!
4. Question for Tigers（All valid and top 10 most popular stocks are rewarded by Tiger Coins)
Will you take the time to consider $Lam Research(LRCX)$ to your Watch list? What’s your target price?
Any other stocks are shaping the same pattern?
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