Lam Research falls nearly 50% from peak but remains a buy

AI chip stocks have sold off sharply over four months, with the iShares Semiconductor ETF down over 25% since June 30. Lam Research is nearly 50% below its June high but still up more than 127,300% since its 1984 IPO. Last quarter revenue rose 54.5% to $8.22 billion and adjusted EPS 77.4% to $2.20, both records.

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