2024-01-25 17:43:39 ET
Summary
- Lam Research's share price rose nearly 2% after reporting quarterly results and guidance that exceeded estimates.
- The company's outlook for NAND memory, which is critical to its business, was vague and uncertain.
- Lam's top customers make NAND chips, and while overall equipment revenues dropped 35.2% YoY, NAND equipment revenues dropped 71.7%.
- Lam Research faces challenges from Chinese domestic equipment companies and a decline in market share compared to competitors.
Lam Research ( LRCX ) announced its financial results for the fiscal second quarter ended Dec. 24, 2023. According to a Seeking Alpha news article , share price rose nearly 2% in after hours trading after it reported quarterly results and guidance that topped estimates....
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Lam Research: Lack Of Clarity On NAND A Significant Headwind In 2024