KLA Corporation NASDAQ: KLAC Stock “weekly” Chart
KLA Corporation (KLAC) sank by 7 percent on Thursday, after UBS downgraded the stock.
Based on its market cycles, we believe the stock will from a bottom in the coming weeks.
UBS Analyst TImothy Acuri revised his assessment of KLA Corporation from Buy to Sell. This company has been amongst the best performing stocks in the semiconductor sector,
However, as the sector faces an oversupply of inventory and waning demand, the analyst sees costs for the KLAC continuing to rise.
Our approach to stock analysis uses market cycles to project price action.
Our analysis shows the stock has been positive for its current cycle, yet it is now in a declining phase. In the intermediate term, we see higher prices into December and beyond, after this correction ends and the next rising phase begins.
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Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
