We recently published 12 Stocks Jim Cramer Recently Talked About In His “Idea-Driven” Market. Lam Research Corp (NASDAQ:LRCX) is one of the stocks Jim Cramer recently discussed.
Lam Research Corp (NASDAQ:LRCX) is an American semiconductor manufacturing equipment provider and one of the most important companies in the industry. Its machines cover several key chip manufacturing processes such as etching and deposition. Lam Research Corp (NASDAQ:LRCX)’s shares have gained 36% year-to-date, primarily due to Wall Street’s bullishness about AI demand that has also pushed NVIDIA’s shares to a record high. Cramer discussed the firm’s intellectual property and shared that he believes the stock can go much higher.
“I’m using this as a metaphor. People are reaching for things they feel have not kept pace with the big tech rally. This morning Morgan Stanley goes Applied Materials, they’re like KLA, but I want to focus on Lam Research because it’s only 25 times earnings. You’ll see the chart it’s not like it missed anything, it’s like boom. But it can still take out that August high of last year. This is an amazing company and what people don’t realize is that the intellectual property for our semis, has to do with the capital equipment companies. And the one that I think is the most sophisticated is Lam. So I actually don’t want people paying 25 times earnings.”
A technician operating an automated semiconductor processing machine with laser accuracy.
Cramer discussed Lam Research Corp (NASDAQ:LRCX) in detail after its latest earnings report in April. Here’s what he said:
“. . I thought Lam was great. I mean Lam was just chock-full of really good numbers.”
