This Growth Stock Is a Bargain Right Now

Lam Research's (NASDAQ: LRCX) stock price dipped nearly 2% after its fiscal 2022 first-quarter results were released on Oct. 20. Some investors were giving the company's weaker-than-expected guidance a thumbs down.

However, shares of the semiconductor-equipment supplier have surged impressively over the past month (see chart below). Lam Research stock's recent rally isn't surprising as it gives investors a way to tap into the global semiconductor shortage and the booming demand for memory chips.

Let's look at the reasons why buying Lam stock right now could turn out to be a smart move for the long run.

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Source Fool.com