# Chip gear stocks hit record highs while the broader market tanks — buy the AI momentum

_AI-generated trading idea · LONG · AMAT, ASML, LRCX_

> Canonical page: https://commonquant.ai/research/for-you/chip-gear-stocks-hit-record-highs-while-the-broader-market-t--8b17b829-2456-4705-bbc1-7f10003ccb0a

Companies that make the machines used to manufacture computer chips saw their stock prices hit all-time highs today. This happened even as the broader stock market fell after the Federal Reserve's latest update.

## Idea

While the overall market struggled today due to concerns about interest rates, the companies that build the equipment for artificial intelligence chips are still seeing massive demand. When a specific industry hits record highs on a down day for the market, it shows that investors are prioritizing that sector regardless of broader economic worries. This suggests the momentum behind chip equipment makers is strong enough to weather the broader storm.

## Key details

- Symbols: AMAT, ASML, LRCX
- Timeframes: 1D
- Tags: \#stocks, \#technology, \#momentum

## Community

- Upvotes: 14
- Views: 0
- Copies: 0
- Cosigns: 0

## News sources

- [Applied Materials, ASML, Lam Hit Record Highs, Lead Chip Gear Stocks Rally](https://www.investors.com/news/technology/asml-stock-chip-gear-stocks-hit-record-highs/?src=A00220&yptr=yahoo) — Investor's Business Daily

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