Why KLAC, LRCX, and AMAT Stocks Hit All-Time Highs Today
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Wells Fargo upgraded KLA (KLAC) and Lam Research (LRCX) to Buy, citing expected growth in the chipmaking equipment market. Applied Materials (AMAT) remains a top pick. This news led to all three stocks reaching all-time highs. Analyst Aaron Rakers noted tightening demand for advanced logic and memory chips, prompting a 10% increase in wafer fabrication equipment spending estimates. Price targets were raised to $1,600 for KLA and $250 for LRCX. Analysts suggest all three stocks are near fair value, with LRCX showing the least downside risk.
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