Artificial Intelligence (AI) Just Pushed This Chip Stock to New All-Time Highs, and Should Push It Even Higher
The artificial intelligence revolution is crowning new titans in the stock market, most notably Nvidia. But it's also giving a healthy boost to all of the equipment stocks that help produce Nvidia processors and all the memory needed for huge AI systems too.
Case in point: the latest earnings release and commentary from Lam Research (NASDAQ: LRCX), which beat analyst expectations in its second fiscal quarter.
Although Lam is still coming out of a rather severe downturn in its NAND flash memory business, the company has managed fairly resilient results over the past year, earning $27.33 per share at the trough of the cycle.
Source Fool.com
