Lam Research (LRCX) stock rose 15.5% following the company FYQ1 2020 earnings. The company beat by $0.16 while revenues were inline, decreasing 6.9% YoY.
In his prepared remarks, CEO Tim Archer noted:
"Looking at our year-to-date performance, we have made tremendous progress against our objectives of expanding our SAM, increasing our market share, and building our installed base business. Importantly, 2019 has been a year where Lam has strengthened its position in the foundry and logic segment."
That's all well and good. LRCX is gaining against competitors, primarily Applied Materials (AMAT).