NEW YORK, January 4, 2026, 17:49 ET — Market closed
- Lam Research shares ended Friday up 8.1% at $185.06, after touching an intraday high near $186.
- The rally followed fresh analyst attention after Citi added the chip-tool maker to its Large Cap Recommended list for 2026, a report said. 1
- Next catalysts include Monday’s ISM factory survey, Friday’s U.S. jobs report, and Lam’s expected Jan. 28 earnings.
Lam Research Corp (LRCX) shares closed up 8.1% on Friday at $185.06, lifting the chipmaking-equipment maker to a record close after the stock hit an intraday high of $185.88.
The sharp move matters heading into the first full trading week of 2026, with investors weighing fresh economic data and an approaching earnings slate that can reprice high-growth tech stocks in a hurry.
Chip-tool names have been early leaders as investors lean into the AI buildout trade, but the group tends to react quickly when bond yields move on macro surprises. Industry group SEMI forecast global sales of chipmaking equipment will rise about 9% to $126 billion in 2026.
Friday’s jump followed renewed attention after Lam was named to Citi’s Large Cap Recommended list for 2026, according to a StockStory report. 1
The bid spread across the sector. ASML surged 8.8% on Friday after Aletheia Capital upgraded the stock twice, and the Philadelphia Semiconductor Index climbed about 4% in the session, Investors.com reported.
Lam sells wafer fabrication equipment, or WFE — the deposition, etch and clean tools chipmakers use to build and connect layers on silicon wafers. Demand for WFE has tracked the push to add capacity for AI-related logic and memory chips, Reuters reported.
The next check on that demand arrives with Lam’s quarterly report. Earnings calendars tracked by TipRanks show Lam is set to report on Jan. 28, with a consensus EPS forecast of about $1.16 and the reporting period marked as fiscal 2026 Q2.
Technically, Friday’s move left the stock near its peak, with $180 a round-number level traders often watch and Friday’s prior close around $171.20 a nearby reference point if the rally fades.
The risk is that policy and demand cross-currents undercut orders. U.S. export controls and tariff uncertainty remain a recurring overhang for chip supply chains, and Lam’s exposure to China has been a point of focus for investors; CEO Tim Archer said in April, “Our outlook remains strong even as we address near-term tariff-related uncertainty.”
On the calendar, markets get the ISM manufacturing PMI on Monday, Jan. 5 at 10:00 a.m. ET, followed by the U.S. employment report for December on Jan. 9 and the CPI report on Jan. 13 — all potential drivers for yields and tech multiples.
Lam also plans to pay a quarterly dividend of $0.26 per share on Jan. 7, and the next major catalyst for the stock is its Jan. 28 earnings report and guidance. 2
