ASML, AVGO, and LRCX are in rally mode today
Chip suppliers ASML Holding NV (NASDAQ:ASML), Broadcom Inc (NASDAQ:AVGO), and Lam Research Corp (NASDAQ:LRCX) are higher today, after Taiwan Semiconductor (TSM) reported record quarterly profits and said they expect revenue to grow in the first three months of 2025 thanks to strong artificial intelligence (AI) processing chip demand.
ASML is up 4.3% to trade at $757.42 at last glance, but is still struggling with long-term overhead pressure at the $780 level, which rejected last week's rally. Shares are off to a decent start in 2025, sporting a 9.1% year-to-date lead.
AVGO was last seen up 1.8% to trade at $232.06, looking to add to its impressive 110.1% year-over-year lead. The equity is today on track for its third gain in the last four sessions, and is not too far removed from its Dec. 16, record high of $251.88, with support from the $220 level.
Outperforming its peers today, LRCX is up 6.2% to trade at $80.87 at last check. The stock earlier surged to its highest level since October, breaking above resistance at the $80 level as it paces for its third-straight daily gain. Over the last three months, shares added 10.6%.