Lam Research (LRCX) $896
Hold, waiting for a better price to add. Long Term story remains good.
Post earnings call, the stock dropped 2.5% to $896.
Earnings call suggested that the growth in mature semiconductor lines for memory was still slow and recovering, but the growth from high memory was not enough to stem that weakness. Management wasn’t convincing enough, so this could drag. The other worry was the China exposure, which is a common feature for semis, and tech.
No point chasing yesterday’s rise, we should wait for a decent entry point, there were no ratings downgrades from analysts in the morning, but a couple of price target declines.