Why Lam Research Stock Got Clobbered Today
Lam Research (NASDAQ: LRCX), one of a handful of large companies manufacturing equipment for the production of semiconductors, tumbled 6.9% through 1:45 p.m. ET this afternoon. As unbelievable as it may sound, you can blame one of Lam's big rivals, Applied Materials (NASDAQ: AMAT), for Lam's troubles.
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Applied Materials reported strong earnings for its third quarter fiscal 2025 last night. Analysts expected Applied to earn only $2.36 per share on sales of $7.2 billion, but Applied said it actually earned $2.48 per share, and sales were stronger than expected at $7.3 billion.
Source Fool.com
