Lam Research: Buy The Summer Pullback (Rating Upgrade)

Lam Research is upgraded to a buy as accelerating growth, margin expansion, and reduced China risk improve risk/reward after the recent pullback.

The company delivered 30% YoY revenue growth in the June quarter, driven by robust AI and memory demand, with inventory turns and margin gains confirming strong fundamentals.

Guidance for the September quarter signals further acceleration: 52% YoY revenue growth and 71% YoY EPS growth expected.

Tailwinds are set to strengthen.

Substantial R&D investments and management’s confidence in multi-year tailwinds reinforce Lam Research’s competitive positioning and support the bullish outlook.

In early May, I conducted an analysis of Lam Research Corporation's (LRCX) March quarter results and found that growth was robust and that margins were expanding.

However, the company's exposure to potential China This article was written by Bay Area Ideas 5.66K Followers Follow I'm a full-time investor with a strong focus on the tech sector.

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