Jim Cramer’s Bold Predictions About These 9 Semiconductor Stocks

7. Lam Research Corporation (NASDAQ:LRCX)

Number of Hedge Fund Holders In Q3 2024: 58

Date of Cramer’s Comments: 9-16-24

Performance Since Then: -3.22%

Lam Research Corporation (NASDAQ:LRCX) is one of the few companies in the world capable of manufacturing machines that are used in semiconductor fabrication. Since it depends on the health of the broader semiconductor industry for prosperity, sluggishness in consumer electronics, automotive, and industrial sectors has meant that Lam Research Corporation (NASDAQ:LRCX)’s shares are down 2% year-to-date. The stock fell by 11% in October when chip-making equipment giant ASML disappointed investors with its soft guidance. The firm has also been hurt due to its Chinese exposure, with 42% of its sales being from China. Here’s what Cramer said about Lam Research Corporation (NASDAQ:LRCX) in September:

“I think Lam is dramatically oversold. I think it could be a coiled spring. Maybe it has 50 points down, but I think it could have 200 points up. I agree with you, and I’ve known the company for a very long time, certainly more than the traders who are dumping it right now. So anyway, don’t try to chase this move out of tech, please. I’ve seen this kind of thing before, it’s just not worth your effort. It will only result in you churning your dollars and losing money.”