Jim Cramer Says: "Don't Be in a Hurry to Buy Lam Research"

Lam Research Corporation (NASDAQ:LRCX) is one of the stocks that Jim Cramer recently commented on. During the episode, Cramer recommended against buying the company stock, as he remarked:

“It would be best to accept that the food and drugs can have a couple of days in the sun, can’t they? The old leaders pulled back a little, can’t they? Don’t be in a hurry to buy Lam Research or Applied Materials or KLA… not after we had Texas Instruments on tonight, and I wouldn’t step in front of the falling knives that represent any of the meme stocks…”

Lam Research (NASDAQ:LRCX) develops equipment used in semiconductor manufacturing and provides advanced systems for deposition, etching, and cleaning processes important to integrated circuit production. During a March episode, Cramer said that he “would own the stock.” He commented

“I like Lam very much. Right now, it’s in the crosshairs of a lot of different geopolitical concerns. It’s one of those stocks that I think is deeply involved with the negativity right now. It’s a shame because Tim Archer’s not a negative guy and they are a fabulous company. I would own the stock.”

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Disclosure: None. This article is originally published at Insider Monkey.