Trade Tracker: Josh Brown buys Lam Research

Market Overview & Stock Performance - Applied Materials gave weak guidance, leading to a stock decline and impacting other chip equipment and semiconductor companies [1] - SMH (Semiconductor ETF) recently reached a record high [1] - The market is experiencing stock trading in baskets, where stocks get caught in the crossfire due to ETFs and other factors [3][4] Lamb Research Analysis - Lamb Research has been a top-performing stock, consistently rallying after earnings reports [2] - A buying opportunity arose when the stock fell below $100 [2] - The stock price dropped from $102 to $99+ after running up to $107, triggering a buy [5] - The stock's strong performance is attributed to its earnings, revenue results, and forward guidance [5] - The recent selling pressure on Lamb Research is considered misplaced and incorrect, likely due to concerns about AAT's export licensing issues with China [6] Investment Strategy & Risk Assessment - Chip equipment companies are considered great businesses but are also high beta [7] - Lam Research trades at a 30% premium to its 10-year average [8] - AAT faces significant headwinds from China [7]