Lam Research stock slips before earnings week as Citi cites “Phase 2 upcycle”
Lam Research shares fell 1.3% to $217.94 Friday, extending a two-day slide despite Citi raising its price target to $265. The stock closed about 7.7% below its 52-week high. Investors await Lam’s Jan. 28 earnings and the Federal Reserve’s rate decision next week. Trading volume on Friday was near 10 million shares.