Jim Cramer on Lam Research: "Let it Come in And Then Do Some Buying"

Lam Research Corporation (NASDAQ:LRCX) is one of the stocks that Jim Cramer spoke about. When a caller asked about the company during the lightning round, Cramer replied:

“Lam Research had a great quarter. Don’t believe anything else. I mean, I know the stock’s rolling over because the chart’s bad. I really liked it. I thought that Tim Archer did a terrific job. Let it come in and then do some buying.”

Lam Research (NASDAQ:LRCX) provides advanced semiconductor processing equipment used in chip fabrication. The company specializes in deposition, etch, and cleaning technologies. During the July 22 episode, Cramer said, “Don’t be in a hurry” to buy the stock, as he commented:

“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…”

While we acknowledge the potential of LRCX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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