Lam Research shares are falling due to semiconductor sector downturn and political concerns in China

From Benzinga: 2024-07-17 13:51:09

Lam Research Corporation (LRCX) shares are down 8.54% to $984.14 amid a semiconductor sector downturn. President Biden may impose more restrictions on China. Trump’s remarks on Taiwan and ASML’s cautious guidance are also affecting the market.

Investor concerns over Trump’s comments on Taiwan and U.S. chip business could impact semiconductor supply chain companies like Lam Research that rely on key players like TSMC.

Lam Research is a major supplier of semiconductor manufacturing equipment, heavily dependent on TSMC. As TSMC stock falls due to political and market sentiment, it raises concerns about future revenue for Lam Research.

Investors should weigh factors like time horizon, gains, and market dynamics before deciding to hold or sell Lam Research stock. RSI indicates neutral conditions, with Lam Research shares having a 52-week high of $1127.3 and low of $255.89.

Consider using Benzinga PRO for advanced charting and analysis tools. LRCX has all-time high of $1127.3, reflecting 12.87% potential upside. Market News and Data provided by Benzinga APIs, © 2024 Benzinga.com. Benzinga does not provide investment advice.



Read more at Benzinga: Why Lam Research (LRCX) Shares Are Falling – Lam Research (NASDAQ:LRCX)