Lam Research Well Equipped to Fuel 2018 Growth, Though Shares Overvalued Relative to Unchanged FVE
Lam Research reported fiscal second-quarter results slightly ahead of our expectations, while providing forward guidance considerably greater than our internal model. Persisting demand across leading chipmakers in support of 10-nanometer process ramps and the shift to 3D NAND continues to defy market expectations and 2018 is shaping up to be another double-digit growth year for wafer fabrication equipment, or WFE, spending. Concerning Lam, we remain impressed with how it has evolved from a memor...Lam Research is a supplier of wafer fabrication equipment and services to the semiconductor industry. The company designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company's customer base includes semiconductor memory, foundry, and integrated device manufacturers that make products such as non-volatile memory, dynamic random-access memory, and logic devices. The company's services include customer service, spares, improvement, and refurbishment of its deposition, etch, and clean products. The company sells its products and services to companies in the United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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