Buy Lam Research on the Summer Pullback: Position for the AI Memory Capex Cycle
Lam Research (LRCX) has pulled back from June highs and is trading below short-term moving averages despite strong profitability and expanding addressable market from AI-driven memory capex. We upgrade to Buy and lay out an actionable mid-term trade with entry at $302.00, a $380.00 target, and a $270.00 stop - horizon: mid term (45 trading days).