Chip stocks hammered last week now rebounding — dip buy on Lam Research
Tech and chip stocks took a beating last week but are starting to rebound. Meanwhile, Wall Street analysts are upgrading chip equipment makers like Lam Research, citing massive long-term investment booms from countries like South Korea.
Idea
Chip stocks were hammered during last week's global tech sell-off, pushing prices down to attractive levels. However, the fundamental backdrop remains incredibly strong: major banks like Citi and BofA just raised their price targets on Lam Research, anticipating a multi-year spending boom that could reach $250 billion. South Korea's announcement of an $880 billion investment into chips and data centers further confirms this demand. With tech futures now rebounding as geopolitical tensions ease, this creates a classic dip-buying opportunity in a sector with massive long-term institutional backing.
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News sources
- Lam Research (LRCX): BofA Raises Its Target by $150 as Chip Equipment Spending Heads Toward $250 Billion — Yahoo Finance
- Tech Stocks Rebound; US, Iran Halt Attacks; South Korea's Big AI Push | Bloomberg Brief 6/29/2026 — Bloomberg
- Lam Research (LRCX): Citi Raises Target by $135 on a Multi-Year Chip Manufacturing Investment Boom — Yahoo Finance
- Stock Market Today: Nasdaq Slides Amid Global Technology Sell-Off; Micron, Nvidia, Sandisk Fall (Live Coverage) — Investor's Business Daily