Goldman likes itself some Lam. Here’s the upgrade…
How dare some little website representing a mom & pop (just pop, actually) analytical service cast itself beside the great Vampire Squid? Well, the little mom & pop service also nailed the Squid’s big rally ahead of time after nailing LRCX back in June.
On the latter, we noted a measured upside target of 106 for LRCX and I just find it kind of funny that the most powerful investment bank in the world is finally raising Lam Research to a “buy” now, right at the little mom & pop’s measured target, about 6 months too late.
We caught LRCX when we should have gotten it, when the price was at 84 and everybody was bearish on the Semis. And this was not some contrarian chart trade, either. It was based on fundamentals combined with the chart breakout. Here’s the updated chart from the original NFTRH+ update…
As for the chip equipment segment, I am not yet firm in my view of an easing in business. The November bookings reading from SEMI bumped up just a bit after making a 3 month downtrend. But Goldman coming out now and telling the world to buy now puts a chip in for the bear case.
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