Jim Cramer’s Latest Lightning Round: 8 Stocks in Focus

Page 7 of 7

1. Lam Research Corporation (NASDAQ:LRCX)

Number of Hedge Fund Holders: 85

Lam Research Corporation (NASDAQ:LRCX) is one of the stocks in focus in Jim Cramer’s latest lightning round. A caller asked what Cramer thinks of the stock during the lightning round, and he said:

“Yeah, someone downgraded Lam Research the other day, and I said, are you out of your mind? That’s the chief intellectual property of semiconductor capital equipment. I think it is still a buy even though it just had this parabolic move, up 65%. Do not sell it. Be a buyer.”

Lam Research Corporation (NASDAQ:LRCX) develops and services semiconductor processing equipment as it provides a broad range of deposition, etch, and cleaning systems designed to support integrated circuit manufacturing. In a July episode, Cramer mentioned the stock and said:

“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…”

While we acknowledge the potential of Lam Research Corporation (NASDAQ:LRCX) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than LRCX and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.

Page 7 of 7