Lam Research remains well below its former support, keeping it in the weak camp.

BofA removed Lam Research from its top conviction list but keeps a buy rating; the host reads this as reduced confidence, not bearishness.

BofA removed Lam Research from its top conviction list but keeps a buy rating; the host reads this as reduced confidence, not bearishness.

Reacting to Bank of America removing Lam Research from its list, the host remarks on how pragmatic Wall Street is, using the third-party move to underscore his own read of market sentiment without calling a direction.

Reacting to Bank of America removing Lam Research from its list, the host remarks on how pragmatic Wall Street is, using the third-party move to underscore his own read of market sentiment without calling a direction.

Lam's machines build chip circuits layer by layer, so rising chip demand drives its sales; record quarter up ~54% and ~34% forecast growth, with China exposure (~a third of sales) the key risk.

The host includes the company in the Rule of 40 group and says these businesses have very strong revenue growth and margins and are moving in the right direction, but he gives no price direction.

After a 50% three-month drop, his own 30x earnings model puts fair value near $236, so $230 looks fair; he would consider buying back but is not rushing since he limits portfolio size.