Demand from chipmakers for Lam Research's (NASDAQ: LRCX) tools drove its stock price to all-time highs by mid-January 2022. However, the stock has underperformed since reaching those highs amid labor shortages, COVID-19-related supply chain constraints, industrywide shortages, and rising logistics costs. Moreover, now that it looks like a recession is increasingly likely, some investors wonder whether they should avoid this company, since demand for its products could rapidly deteriorate.

Here are three reasons Lam looks like an excellent long-term investment at today's prices.

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Source Fool.com