Lam Research saw a welcome improvement to its Relative Strength (RS) Rating on Wednesday, with an increase from 79 to 84.
When you're researching the best stocks to buy and watch, be sure to pay attention to relative price strength.
IBD's proprietary rating identifies price action with a 1 (worst) to 99 (best) score. The score shows how a stock's price performance over the trailing 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history shows that the top-performing stocks typically have an RS Rating of over 80 as they begin their biggest runs.
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Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock manages to offer and clear an appropriate buy point now that it has moved above key moving averages.
Lam Research Earnings
In terms of top and bottom line numbers, the company has posted two quarters of rising earnings growth. Revenue growth has also moved higher over the same time frame. The company is expected to report its next quarterly numbers on or around Jan. 25.
Lam Research holds the No. 6 rank among its peers in the Electronics-Semiconductor Equipment industry group. Aehr Test Systems and Advanced Energy Inds are also among the group's highest-rated stocks.
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