LRCX began trading
the month of September at $69.56 following and extremely volatile market swings
of the last few weeks of August. LRCX has since rebounded slightly $72.50 where
it closed on Monday September 14. This represents a 4.23% increase for the
month of September thus far. Unfortunately, the current price is below our
purchase price of $79.63., this represents a 8.95% loss of our position. . LRCX
has been hit hard as the semiconductor market has been changing rapidly, their
products are just beginning to catch up to the demands of the market, as they
missed out on a few important contracts as they did not have service products
for some of the new types of semiconductor equipment. I will continue to
monitor the semi-conductor industry as a whole as we consider closing this poor
performing position. LRCX’s next earnings release is expected to be released in
the end of October. For the sake of diversity I believe that it is beneficial
to have exposure to the semiconductor subsector of the technology sector. LRCX
had little or no media reports or press releases for the first half of
September.
Jeff Sherman
No comments:
Post a Comment