New York, February 16, 2026, 13:34 ET — The market is closed.
- Lam Research finished Friday up 1.8% at $235.53. U.S. markets are closed Monday for Presidents Day.
- Chip-equipment stocks have seesawed as sentiment shifts around AI-related outlays and the memory cycle.
- Fed minutes, inflation numbers, and Nvidia earnings—these are what traders are watching now for clues about the AI supply chain.
Shares of Lam Research (LRCX.O) ended Friday in positive territory and won’t see action again until Tuesday, with U.S. markets dark on Monday for the Presidents Day break.
That’s key—chipmaking-tool names now basically move as a barometer for big money’s read on the AI buildout. Lam’s stock races higher the moment investors bet on a longer run for equipment spending, then loses altitude just as quickly when sentiment cools.
Plenty lines up on the calendar—Monday might be quiet, but U.S. inflation prints and growth numbers arrive this week. Next week, a key AI bellwether steps up with results. All that could shift risk appetite again ahead of Lam’s next move.
Shares of Lam closed out Friday at $235.53, rising 1.83% from the previous session, LSEG data showed.
Shares climbed Friday, with Applied Materials (AMAT.O) ripping about 11% higher after the chip equipment maker issued a bullish forecast for quarterly revenue and profit. The company credited AI-fueled spending and tighter memory supplies. “Fueled by the acceleration of industry investments in AI computing,” CEO Gary Dickerson said of the outlook. Morningstar’s William Kerwin isn’t mincing words either—he’s calling for “a massive wafer fabrication equipment growth cycle over the next three years.” Reuters
On paper, the outlook remains positive. SEMI, the industry group, is calling for a roughly 9% jump in sales of chipmaking equipment to $126 billion in 2026, with another 7.3% increase to $135 billion set for 2027. These machines—etchers, deposition tools, metrology gear—are essential for building wafer layers on silicon.
Still, the AI trade’s patience is wearing thin in places. Several tech giants have shed market value earlier this year, as investors start to doubt whether hefty AI investments can deliver returns fast enough to back up current valuations.
Lam’s message stays on demand, not stock moves. Back in late January, it put out a quarterly revenue forecast that topped what Wall Street was looking for. CEO Tim Archer credited the outlook to customers moving toward smaller and more complicated “three-dimensional devices.” Reuters
Earlier this month, the company announced it would pay a quarterly dividend of $0.26 per share. The payout is set for April 8, with March 4 as the record date for shareholders.
The risks aren’t difficult to map out. Should memory prices ease up, or if hyperscalers pull back on data-center outlays, equipment orders can drop in a hurry. Shares of chip-equipment firms usually move lower even before the numbers actually reflect it.
Tuesday brings the market reopen, with traders eyeing whether Friday’s jump in Applied Materials sticks. Coming up: the Federal Reserve’s January meeting minutes land Wednesday, then Friday’s calendar packs in the core PCE price index — the central bank’s go-to inflation measure — plus a U.S. GDP print.
Next up for AI suppliers: February 25. That’s when Nvidia will lay out its quarterly numbers and guidance.
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