The stock market saw a mix of movements in the latest trading session. The S&P 500 closed at 4,732.00, marking a 0.74% increase, while the Dow Jones Industrial Average ended at 37,441.27, showing a slight decrease of 0.07%. Tech-heavy Nasdaq Composite (QQQ) surged by 1.55%, closing at 402.91. Individual tech giants also experienced fluctuations, with Apple (AAPL) rising by 1.67% to $184.21, Microsoft (MSFT) climbing 1.07% to $371.68, and Meta Platforms (META) gaining 1.22% to close at $356.26. Similarly, Amazon (AMZN) and Google’s parent company Alphabet (GOOGL) both saw gains of 1.69% and 1.67% respectively.
Meanwhile, in the tech sector, Tesla (TSLA) rose by 0.83% to $239.45, while chipmaker Nvidia (NVDA) surged by 4.95% to $515.25. On the other hand, Chinese electric vehicle manufacturer NIO (NIO) and e-commerce giant Alibaba (BABA) experienced declines, with NIO falling by 0.62% to $8.01 and Alibaba dropping by 0.59% to $72.58. Advanced Micro Devices (AMD) showed a significant increase of 5.32% to $145.95.
Additionally, in the entertainment and pharmaceutical sectors, AMC Entertainment (AMC) saw a rise of 2.51% to $5.30, while Pfizer (PFE) gained 0.31% to $29.56. Payment processing company PayPal (PYPL) also experienced an increase of 2.15% to $61.41. On the other hand, energy giant Exxon Mobil (XOM) faced a decline of 2.37% to $100.20.
Amidst these market movements, Lam Research Co. (NASDAQ:LRCX) has garnered attention from analysts. According to Marketbeat.com, the company has received an average recommendation of “Moderate Buy” from twenty brokerages. Out of these, six analysts have given the stock a hold rating, while fourteen have assigned a buy rating. The average 12-month price target for Lam Research Co. stands at $685.75, based on the assessments of analysts who have covered the stock over the past year.
Several brokerages have recently issued reports on LRCX. Raymond James initiated coverage on Lam Research, giving it an “outperform” rating along with a $725.00 price target. StockNews.com also began coverage on the company, providing a “hold” rating.
Overall, the recent market movements and analyst recommendations indicate a dynamic landscape for investors, with various sectors showing both positive and negative trends.
