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LRCX — Lam Research

_Last updated 2026-10-23 09:00 ET from report. Screening/research, not investment advice._

Business

Wafer-fabrication equipment (etch, deposition, clean) plus customer-support/spares business (Reliant line) — Lam IR release, 2026-10-21.

Catalysts, guidance & news

  • 2026-10-21 AMC, Sept-qtr (FQ1'27): revenue $8.22B (record), non-GAAP EPS $2.20 vs $2.18 est., revenue est. $8.13B (Lam IR; Investing.com, 2026-10-21).
  • Guide (Dec qtr): revenue $8.60B ± $0.4B (est. $8.54B), non-GAAP EPS $2.33 ± $0.15 (est. $2.32), GM 52.5% ± 1pt, OM 40.5% ± 1pt (same sources). CFO: guide "would have been a bit higher" without supply constraints; delayed shipments slip to March; China (35% of Sept revenue, from 26% in June) to be "meaningfully down" in December (Yahoo Finance, 2026-10-21). Held-back revenue amount: unknown.
  • Longer view from the call: CY26 systems revenue growth "well over 40%", 2027 WFE could exceed $200B, advanced packaging > 70% growth in 2026 (Investing.com transcript summary, 2026-10-21).
  • Analysts: Evercore ISI PT $355 → $315 (Outperform); Goldman Buy $380 (Investing.com, 2026-10-22).
  • Stock −11.76% on Oct 22 to $230.15; the trigger for the SOX −6.72% day (report).

TRAI data (2026-10-23 8:53 AM ET premarket run; daily stats = Oct 22 session)

  • Sector (TRAI): Semis. Oct 22: -11.76%, relVol 2.63, ATR 6.77%, beta60 3.13, indicated gap -0.15%, signals: short_momentum (TRAI /api/latest).
  • Next earnings: none on file (next = null) (TRAI /api/events, asOf 2026-10-23).
  • Typical earnings reaction (last 4): avg |gap| 9.73% (1.34 ATR), max |gap| 26.13%, gap fill rate 50%, continuation 75%, avg day-1 move in gap direction -0.28% (TRAI /api/events).
  • Recent events: 2026-01-28 AMC: gap +2.52%, day-1 +1.04%, close-close +3.59%, EPS surprise 8.7%; 2026-04-22 AMC: gap -0.19%, day-1 -2.45%, close-close -2.63%, EPS surprise 7.87%; 2026-07-29 AMC: gap +26.13%, day-1 -6.46%, close-close +17.98%, EPS surprise 8.1%; 2026-10-21 AMC: gap -10.09%, day-1 -1.86%, close-close -11.76%, EPS surprise 0.94% (TRAI /api/events).
  • Correlation cluster 1 (avg ρ 0.588, 60d): ON, MCHP, TXN, ADI, CAT, ANET, VRT, GEV, ETN, AVGO, MU, TSM, ASML, KLAC, AMAT, LRCX, MRVL, ARM, AMD, INTC, NVDA, ORCL, SMCI, DELL (TRAI /api/correlations, asOf 2026-10-22).
  • Highest 60d correlations: AMAT 0.91, KLAC 0.88, ASML 0.84, TSM 0.83, MU 0.78 (TRAI /api/correlations).

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