Argus raised the firm’s price target on Lam Research to $1,050 from $975 and keeps a Buy rating on the shares. The analyst cites the company’s better than expected earnings and revenue while noting that China is buying WFE aggressively in advance of further expected prohibitions on technology exports. On a secular basis, multiple technology inflections – including generative AI, cloud data center, vehicle electrification, IoT and the 5G smartphone cycle – position Lam for extended growth, Argus tells investors in a research note.
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