Lam Research gains on bullish analyst day comments


Lam Research (LRCX +2.7%) guides during its 2014 analyst day (webcast) for $1B in 2014 operating cash flow, and for 2H14 revenue growth to be on par with 1H growth. The company also expresses confidence its recent share gains will continue.

Shares are making fresh 52-week highs on an ugly day for tech. They soared in April following an FQ3 beat and bullish CC commentary, and rose two weeks ago following a Cowen PT hike.

Lam's outlook comes as the chip equipment industry's Semicon West conference gets underway. Industry commentary has been largely (but not uniformly) bullish going in.

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