Lam Research Corporation (NASDAQ:LRCX) closed at $347.49 on October 2, up 132.98% over twelve months. Most investors have never heard of the company and could not say what it makes. It builds the machines that carve the patterns into silicon wafers. A stock that more than doubles usually invites the question of whether anything underneath justifies it. In this case something does, and it is worth understanding what. READ ALSO: Is Lam Research, KLA, or Applied Materials the Best Chip Equipment Buy? Jim Cramer Weighs InWhat is Lam Research's (LRCX) Economic Moat, and is it Widening or Narrowing? The Moat is That Nobody Can Afford to Switch: A chipmaker does not simply buy an etch tool.
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