Jim Cramer’s Bearish Calls: 10 Tech Stocks Heading for a Crash

8. Lam Research Corporation (NASDAQ:LRCX)

Number of Hedge Fund Holders In Q3 2024: 58

Date of Cramer’s Comments: 09-19-24

Performance Since Then: 6.48%

Lam Research Corporation (NASDAQ:LRCX) is a semiconductor manufacturing hardware firm that is one of the key players in its industry. The firm has struggled in 2024 as the broader non-AI semiconductor industry has struggled due to slowdowns in the consumer mobile and computer markets. Lam Research Corporation (NASDAQ:LRCX)’s shares are down 1.5% year-to-date, with the firm’s Chinese exposure also driving investor uncertainty. During its fiscal year 2024, 42% of the firm’s revenue was from China while memory chips contributed $14.9 billion. US sanctions on China and the memory slowdown have not helped the chip sector in 2024 either. Cramer mentioned some of these facets in September, and since his remarks, Lam Research Corporation (NASDAQ:LRCX)’s stock has lost 6.48%:

“Lam Research is a key semiconductor capital equipment maker. Right now, they’re being suppressed by a lack of Chinese orders, not to mention Intel slowing its European manufacturing plans. If not for those issues, I think it’d be a great buy right now. But given that the industry has problems, I say let it come down even more. However, Lam is the best in the group.”