Lam Research Stock Rockets on AI Chip Demand – Can LRCX Keep Climbing?
Lam Research posted fiscal Q1 revenue of $5.32 billion and non-GAAP EPS of $1.26, beating analyst estimates. Net income reached $1.57 billion. Management projected Q2 revenue of about $5.2 billion and EPS near $1.15, both above forecasts. LRCX shares rose 3% after hours and are up 19% in the past month.