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Lam Research Rallies on Micron Upgrade and Bullish Semiconductor Outlook
Lam Research Rallies on Micron Upgrade and Bullish Semiconductor Outlook
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BTCCSquare news:
Lam Research (LRCX) shares surged 7.3% amid a broader semiconductor sector rally, fueled by an analyst upgrade for key customer Micron Technology (MU). Citi raised Micron's price target to $175, citing robust DRAM demand driven by AI infrastructure build-out and data center growth. The memory market upturn reflects constrained production and stronger-than-expected demand.
While Lam disclosed no company-specific news, its vertical integration in etch/deposition tools for memory and logic chips positions it as a beneficiary of the semiconductor capex cycle. CFO Doug Bettinger reinforced Optimism during the Communacopia Conference, highlighting increasing capital intensity for advanced chipmaking processes.
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