Jim Cramer on Lam Research: “Let it Come in And Then Do Some Buying”

Lam Research Corporation (NASDAQ:LRCX) is one of the stocks that Jim Cramer spoke about. When a caller asked about the company during the lightning round, Cramer replied:

“Lam Research had a great quarter. Don’t believe anything else. I mean, I know the stock’s rolling over because the chart’s bad. I really liked it. I thought that Tim Archer did a terrific job. Let it come in and then do some buying.”

Jim Cramer on Lam Research: "Let it Come in And Then Do Some Buying"

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Lam Research (NASDAQ:LRCX) provides advanced semiconductor processing equipment used in chip fabrication. The company specializes in deposition, etch, and cleaning technologies. During the July 22 episode, Cramer said, “Don’t be in a hurry” to buy the stock, as he commented:

“It would be best to accept that the food and drugs can have a couple of days in the sun, can’t they? The old leaders pulled back a little, can’t they? Don’t be in a hurry to buy Lam Research or Applied Materials or KLA… not after we had Texas Instruments on tonight, and I wouldn’t step in front of the falling knives that represent any of the meme stocks…”

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Disclosure: None. This article is originally published at Insider Monkey.