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Why Semiconductor Equipment Stocks Applied Materials, Lam Research, and KLA Corp. Rallied Thursday
TSMC's massive growth and guidance for capital expenditures lit a fire under these stocks today.Each of these names is down by 20% to 32% from their summer highs.Long-term investors would be wise to own these names through their cycles for the long term.Shares of semiconductor equipment giants rallied big on Thursday, with Applied Materials , Lam Research , and KLA Corporation jumping 4.5%, 4%, and 4.3%.These three stocks collectively account for much of the large oligopoly in semiconductor equipment, and each stock has had excellent long-term returns as a result. However, the near-term picture hasn't been as good, with each down between 20% and 32% from their summer highs.But could that pullback be ending as of today?
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