NEW YORK, Jan 10, 2026, 14:59 ET — Market closed.
- Lam Research shares surged 8.7% on Friday following Mizuho’s boost of its price target to $220.
- Chip stocks climbed as U.S. jobs figures missed expectations, fueling ongoing speculation about potential rate cuts.
- Next up: U.S. CPI data drops Jan. 13, followed by Lam’s earnings call on Jan. 28.
Lam Research Corp’s stock jumped 8.7% in the final U.S. session, closing at $218.36. The surge came after Mizuho raised its price target on the chipmaking equipment firm from $200 to $220. The PHLX semiconductor index, a key barometer for chip stocks, climbed 2.7% to reach a new record high.
The timing is key as investors return to rate-sensitive growth stocks following a mixed U.S. jobs report that left bets on Fed cuts this year intact. “Payrolls were a little bit light relative to consensus, but still fairly strong numbers,” noted Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder. Reuters
Analysts are revising their 2026 chip spending forecasts. Goldman Sachs bumped its price target for Lam to $180 from $160 and kept a buy rating, citing stronger memory spending and additional DRAM and NAND investments, TheFly reported. (A price target reflects where an analyst expects a stock to trade over a given period, usually 12 months.)
Mizuho’s update came as part of a wider 2026 forecast for semiconductors and capital equipment, with the firm sticking to its “Outperform” rating, TheFly reported. It still expects the sector to climb this year, but predicts gains won’t match the pace seen in 2025. TipRanks
Lam’s surge also ended a brief retreat. The shares had fallen 1.04% Thursday to $200.96 and remained under the recent 52-week peak of $210.45 hit earlier this week — a key resistance point for some short-term traders.
Peers followed suit, making it clear Friday’s gains weren’t isolated to one stock. Applied Materials jumped 6.9%, while KLA added 5.6%, market data showed.
The macro backdrop drove the shift. According to the Labor Department, U.S. payrolls increased by 50,000 in December, with the unemployment rate steady at 4.4%. Investors saw the data as weak enough to sustain the policy debate but not enough to signal an outright recession.
Inflation data coming next week might move chip-tool stocks as much as any analyst update, given their sensitivity to interest rates. The Consumer Price Index for December 2025 is set for release on Tuesday, Jan. 13 at 8:30 a.m. ET, per the Bureau of Labor Statistics schedule.
Lam’s calendar is packed. The company will hold its December-quarter financial conference call and webcast on Wednesday, Jan. 28 at 2:00 p.m. Pacific (5:00 p.m. Eastern), right after the U.S. markets close.
Investors face the risk that the rally has already baked in a smoother 2026 spending cycle. If memory budgets slip or management grows wary on orders and margins, Friday’s breakout could unravel quickly — particularly since the shares are hovering near key bullish targets.
When markets open Monday, eyes will be on LRCX to see if it can stay above the $210 mark. A slip could put $200 back on the table. Tuesday’s CPI report and Lam’s earnings call on Jan. 28 are the next key events to watch.
