NEW YORK, December 29, 2025, 18:44 ET — After-hours
- Lam Research shares were down about 1.2% in late trading after a weaker Monday session.
- The pullback came with the stock near its 52-week high and on lighter-than-normal volume.
- Investors are looking ahead to Lam’s next earnings update and this week’s Fed minutes and jobless claims.
Lam Research Corporation (LRCX) shares were down 1.2% at $175.87 in after-hours trading on Monday, when stocks change hands outside the regular 9:30 a.m. to 4 p.m. ET session. The chip-equipment maker traded between $174.76 and $179.16 during the day, with about 6.7 million shares changing hands.
The drop left the stock about 2% below its 52-week high and snapped a two-session winning streak, MarketWatch data showed. Trading volume was also well below Lam’s recent average. That proximity to highs can make late-year pullbacks look sharper as investors lock in gains.
The timing matters because Lam’s fiscal quarter ended on Dec. 28, shifting attention toward the company’s next earnings report and outlook. In its last forecast, Lam guided for December-quarter revenue of $5.20 billion, plus or minus $300 million, and net income per diluted share, or earnings per share, of $1.15, plus or minus 10 cents.
Wall Street’s main indexes ended lower on Monday as heavyweight tech and AI-linked stocks pulled back from last week’s gains, Reuters reported. “it’ll turn out to be a buying opportunity,” said Hank Smith, director and head of investment strategy at Haverford Trust, referring to the tech retreat. Investors will also watch minutes from the Federal Reserve’s previous meeting and weekly jobless claims; U.S. markets are closed Thursday for New Year’s Day. Reuters
Semiconductor stocks were mixed, with the iShares Semiconductor ETF (SOXX) down 0.2%. Applied Materials rose 0.4%, while KLA fell 1.5% and ASML slipped 0.6%.
Lam is a global supplier of wafer fabrication equipment and services—tools used to build integrated circuits—according to Reuters. Its customers include memory makers, foundries and integrated device manufacturers.
The move largely tracked the broader tech pullback rather than a clear company-specific catalyst. Lam’s shares often trade as a higher-volatility proxy for sentiment around semiconductor spending.
Investors will listen for any shift in customers’ capital expenditure, or capex—money spent on factories and equipment—because it feeds directly into tool orders. Commentary on advanced memory and leading-edge logic demand will matter most for how the market frames 2026 growth.
Lam’s next update will also put its December-quarter results against the company’s own forecast and Wall Street expectations. Guidance on margins and the split between new systems and services revenue will shape how investors model cash flow.
Technically, Monday’s failure to hold above the high-$170s kept shares pinned in a familiar range. A break out of that band may require fresh catalysts rather than year-end rebalancing.
For now, Lam’s stock looks set to move with the broader chip-tool group into a holiday-thinned week. Fed minutes and company guidance remain the next obvious checkpoints.
