As a global supplier of wafer fabrication equipment, Lam Research (LRCX) is poised to see higher demand for their products/services as the need for 3D designs and multiple patterning overcomes the challenges from 2-dimensional scaling. The growth in the internet of things [IoT] and cloud computing is creating the need for more advanced semiconductors. Lam Research provides the equipment/services to make that happen.
From an investment perspective, Lam Research is a good combination of dividends and growth. The stock yields 2%, but it has a good chance of achieving above-average stock price appreciation due to double-digit revenue and earnings growth, which is expected to return in FY2021 (July 2020 through June 2021).
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