Why Lam Research Stock Dove by 16% This Week
The latest salvo in the U.S.-China trade cold war resulted in collateral damage for a clutch of American companies in, or adjacent to, the semiconductor industry. One of these unfortunates was Lam Research (NASDAQ: LRCX), whose stock lost 16% of its value over the course of this week, according to data compiled by S&P Global Market Intelligence.
The week didn't start off on a high note for the semiconductor industry. The previous Friday, the Commerce Department tightened its restrictions on the export of advanced computer chips from U.S. companies to the sprawling Asian country.
This affects not only the manufacturers of such products but the companies that supply equipment and services to them. One prominent example of the latter is California-based Lam Research.
Source Fool.com
