10 Tech Stocks That Trump’s Fellow Republican Bought Amid Market Rout

6. Lam Research Corp (NASDAQ:LRCX)

Number of Hedge Fund Holders: 84

Lam Research plays a critical role in the semiconductor supply chain, offering services such as the design and manufacturing of semiconductor equipment. It mainly covers the regions of North America, Europe, East Asia, and Southeast Asia.

The firm is expected to post very strong earnings this week as the demand for wafer fab equipment has stayed strong, particularly from China. The real question for the company is whether it can manage to stick to the guidance announced previously. The tough macro environment suggests the company is unlikely to improve on its guidance, so it seems to have peaked in that department, something that is keeping the stock under pressure.

Here’s what Morgan Stanley analyst Joseph Moore thinks about the upcoming earnings:

“Our view is that the company may be able to guide in-line or slightly better than street expectation, but macro uncertainty is unlikely to lead to street expectations being revised up any further from here, given expectations are already quite high.”