Buy This Nasdaq Stock Before It Steps on the Gas
Lam Research's (NASDAQ: LRCX) stock has lost 35% of its value in 2022, and the company's third-quarter (which ended on March 27) fiscal 2022 results that were released on April 20 weren't good enough to revive its fortunes.
Lam's stock price fell 2.5% following the release of its results. The company's revenue and earnings fell short of Wall Street's expectations, thanks to adverse supply chain conditions that have been impacting Lam's operations since the end of 2021. Patient investors, however, now have a great opportunity to buy shares of this semiconductor-making equipment supplier on the cheap.
The booming demand for wafer fabrication equipment (WFE) has led to solid growth in Lam's deferred revenue and backlog, setting the company up for growth in the long run. Let's look at the company's latest numbers and the reasons investors should be focusing on the bigger picture instead of the near-term headwinds.
Source Fool.com
