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  • Semiconductor Equipment Maker Looks Broken 0 comments
    Oct 20, 2011 11:13 AM | about stocks: LRCX, AMAT, TXN
    This morning, the leading semiconductor equipment makers are all declining sharply. Lam Research Corp (NASDAQ:LRCX) is leading the declines trading lower by $4.48 to $38.15 a share. The company reported a 63% decline in profit and guided lower for the next quarter.

    This stocks is causing selling pressure on the other leading semiconductor equipment makers such as KLA-Tencor Corporation (NASDAQ:KLAC), Novellus Systems Inc (NASDAQ:NVLS), and Applied Materials Inc (NASDAQ:AMAT). Since LRCX stock is leading the semi equipment makers lower it will be important to follow this stock closely. The stock has some short term intra-day support around the $38.00 area, however, the daily chart support for LRCX will be around the $36.60 level.

    Nicholas Santiago

    Stocks: LRCX, AMAT, TXN
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