LRCX Lam Research Corporation

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Semiconductor Equipment Makers Look Broken

This morning, the leading semiconductor equipment makers are all declining sharply. Lam Research Corp (LRCX) is leading the declines trading lower by $4.48 to $38.15 a share. The company reported a 63% decline in profit and guided lower for the next quarter.

This stocks is causing selling pressure on the other leading semiconductor equipment makers such as KLA-Tencor Corporation (KLAC), Novellus Systems Inc (NVLS) and Applied Materials Inc (AMAT).

Since LRCX stock is leading the semi equipment makers lower it will be important to follow this stock closely. The stock has some short term intra-day support around the $38.00 area, however, the daily chart support for LRCX will be around the $36.60 level.

Nicholas Santiago

InTheMoneyStocks.com

 

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APPLD MATLS INC (AMAT): Free Stock Analysis Report
 
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LAM RESEARCH (LRCX): Free Stock Analysis Report
 
NOVELLUS SYS (NVLS): Free Stock Analysis Report
 
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