Lam Research Shares Close 37% Below June 30 52-Week High Ahead of Earnings

Lam Research shares closed at $277.46 on Oct. 15, 36.7% below their $438.50 June 30 52-week high, as the chip-equipment maker approaches its next earnings call.

Lam makes wafer-fabrication equipment and provides related services to semiconductor manufacturers. It reported $6.722 billion in revenue for the quarter ended June 28, up from $5.171 billion a year earlier. The increase was about 30%, and diluted GAAP earnings were $1.81 per share.

For the quarter ended Sept. 27, Lam forecast revenue of $8.10 billion, with a range $400 million above or below that midpoint. The company described the forecast midpoint as more than 20% above June-quarter revenue. The $6.722 billion figure is reported revenue for June, while the September-quarter figure is guidance.

Lam’s growth outlook includes memory production and advanced packaging. NAND revenue doubled sequentially during the June quarter, meaning it was twice the prior quarter’s level. The company said advanced-packaging revenue was on track to grow more than 70% year over year in calendar 2026. Lam Research President and CEO Tim Archer said, “AI-driven demand continues to reshape the semiconductor industry.”

Customer-support-related revenue and other reached $2.472 billion in June, versus $1.734 billion a year earlier, an increase of about 42.6%. The category includes customer service, spare parts and upgrades, along with new and refurbished non-leading-edge products. Because it includes equipment as well as services, its growth does not represent recurring service income alone.

Customer demand in the semiconductor industry is cyclical and affected by chip supply, demand and prices, as well as manufacturers’ capacity needs. China accounted for 34% of Lam’s fiscal 2026 revenue. Export-license requirements have limited the market for some products and could affect revenue further.

Lam’s September-quarter earnings call is scheduled for Wednesday, Oct. 21, at 5 p.m. ET (2100 UTC).