Shares of many highly-valued, high-multiple Tech stocks have fallen sharply during the recent market sell-off. While a reset was perhaps needed, as many of these stocks had reached unsustainable valuations, some great stocks were also thrown out with the bathwater, including semiconductor manufacturing equipment maker Lam Research (LRCX), as you can see below.
I’m bullish on this high-quality company based on its crucial role in the semiconductor supply chain, the wide moat of its high-tech business, projected earnings growth, and suddenly compelling valuation after the sell-off. Additionally, the analyst community sees significant upside potential of 36% for the company’s shares over the next 12 months.
Bargain Valuation for a Wide Moat, High-Quality Stock
With much of the air coming out of the AI trade during the current rotation, LRCX is now down nearly 30% from its 52-week high set just a few weeks ago in July. The good news…
