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This Growth Stock Could Explode Very Soon

TheMotleyFool

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This Growth Stock Could Explode Very Soon

Share prices of Lam Research (NASDAQ: LRCX) have been hammered in 2022 thanks to a sell-off in technology stocks, triggered by potential interest rate hikes by the Federal Reserve this year.

The semiconductor equipment supplier's stock has dropped despite the terrific pace at which its revenue and earnings are growing, driven by the booming demand for chipmaking equipment. The company's fiscal 2022 first-quarter revenue increased 35% year over year to $4.3 billion, while adjusted earnings jumped 47% to $8.36 per share.