July 17, 2015 7:24 AM | 1 min read |
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
In a report published Friday, Sifel analyst Patrick J. Ho maintained a Buy rating and price target of $93 on
Lam Research Corporation (NASDAQ: LRCX). The analyst believes that the recent sell-off in the company's shares was an overreaction to the announcement by
Intel Corporation (NASDAQ: INTC) that it was making further cuts to its capex plan for 2015.The analyst believes that the current weakness in Lam Research's share price offers an attractive buying opportunity, given that the company is less exposed to Intel than many of its leading customers. "Lam has exposure with Intel in deposition and recently broke through on the etch side with Intel. Therefore, from just this standpoint, Lam should be impacted less than others who have higher Intel exposure," analyst Ho explained.Key drivers for Lam Research continue to be the 3D NAND, FinFET and multiple patterning technologies. "These variables remain the driver both in 2H15 and more importantly, are the key catalysts for a potential uptick in overall wafer fab equipment (WFE) spending in 2016,: according to the Stifel report.In fact, the analyst believes that upside to the spending on 3D NAND and FinFET in 2H15 could be higher than earlier estimated, with potential for sustainability in DRAM spending.There is limited downside to the stock, given the company's current share buyback target, along with Lam Research's recent debt financing and robust cash flow. "[W]e believe the company can put this cash to work to support the stock at these levels," analyst Ho added.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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