With Micron Technology, Inc. (
MU) and Jabil Circuit, Inc. (
JBL) recently reporting better than expected earnings I believe the semiconductor sector will begin to catch a bid again. My two favorite ideas in this sector are Lam Research Corporation (
LRCX) and KLA-Tencor Corporation (
KLAC). These stocks have built a very nice base over the past week, and I believe a break and hold of this base is buyable.
My first target would be the gap fill, but I think there is more upside than that. This sector has been beaten down recently and these two stocks have yet to have a decent retracement of their down moves.
*DISCLOSURE: No relevant positions-subject to change
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