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This Nasdaq Stock Has Shot Up 20%, and It Isn't Done Yet

TheMotleyFool

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This Nasdaq Stock Has Shot Up 20%, and It Isn't Done Yet: https://g.foolcdn.com/editorial/images/697461/semiconductor-chip2.jpg

Shares of Lam Research (NASDAQ: LRCX) have shot up 20% since the beginning of July in tandem with the broader recovery in semiconductor stocks, which is evident from the 20% rally in the PHLX Semiconductor Sector index.

Lam's rally seems sustainable, as its recent quarterly results indicate. Lam released fiscal 2022 fourth-quarter results (for the three months ended June 26) on July 27, reporting a nice increase in its top and bottom lines. Even better, the semiconductor equipment supplier's guidance indicates that things are about to get better.

Let's look at the reasons why Lam Research stock is built for more upside.

Source Fool.com

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