LRCX - a fantastic investment opportunity

Lam Research Corp functions in the semiconductor industry. It develops and sells semiconductor processing systems that are used in the fabrication of integrated circuits. It has very very strong financial fundamentals. It’s Net Margin is over 20%. Return on Capital is 140%. And it is traded nox extremely cheap. It’s Price-to-Free-Cash-Flow ratios currently stands at 11.22

Yesterday I posted a bullish post about AMAT, the main competitor of LRCX. This morning I checked LRCX and it looks even more bullish!

Since early 1990s it has been playing a giant impulsive structure on a weekly timeframe. And the top it made in March 2018 can only be wave ( 3 ) of [ C ] of [ 3 ]. 

LRCX - weekly chart updated on 11 January 2019

This pullback off that top has a clear corrective structure and looks very much completed. Can it make one more low before the multi decade rally resumes? Sure, though not highely likely. If it does that would be a gift from trading gods! The long term target I see in the area of $310-$290.

LRCX - daily chart updated on 11 January 2019