New York, Feb 15, 2026, 14:02 EST — The market has closed.
- Lam Research tacked on 1.8% Friday, with chip-equipment names moving higher after Applied Materials issued a bullish outlook.
- U.S. markets will stay closed Monday for Presidents Day, with trading set to resume Tuesday.
- This week, attention turns to crucial U.S. data releases and the Fed’s meeting minutes.
Lam Research Corporation finished Friday’s session up 1.83% at $235.53, as chipmaking-equipment names rallied following Applied Materials’ upbeat outlook. (Reuters)
This is significant: Lam is practically at the heart of the semiconductor investment cycle. As soon as chipmakers start spending, companies like Lam see a pickup in orders for wafer fabrication equipment — that’s the gear essential for making chips.
The timing is awkward. U.S. markets are closed Monday, so traders have more room to chew over earnings fallout, adjust to macro data, and think about whether Friday’s rally can actually hold up.
Applied Materials lit up Friday’s session, projecting second-quarter revenue and profit that landed ahead of Wall Street’s estimates—citing surging AI investment and a tighter memory market as key drivers. CEO Gary Dickerson described the guidance as “fueled by the acceleration of industry investments in AI computing.” Morningstar’s William Kerwin echoed that strength, calling for “a massive wafer fabrication equipment growth cycle over the next three years.” Data from SEMI points to equipment sales for chip wafer production climbing about 9% to $126 billion in 2026, and tacking on another 7.3% to reach $135 billion in 2027, according to Reuters. (Reuters)
Broader markets didn’t offer much support. The S&P 500 closed just above flat on Friday; the Nasdaq slipped. For the week, all three major U.S. indexes logged their steepest declines since November, despite softer U.S. inflation data. (Reuters)
Lam’s previous catalyst landed late last month. The company projected third-quarter revenue at $5.7 billion, give or take $300 million, with adjusted earnings of $1.35 per share, plus or minus 10 cents—both coming in ahead of what Wall Street was looking for, according to Reuters. CEO Tim Archer said: “Entering 2026, our expanding product and services portfolio is enabling the market’s transition to smaller, more complex three-dimensional devices and packages.” (Reuters)
Insider moves have drawn attention as well. According to a Form 4, director Eric Brandt unloaded 35,000 shares on Feb. 6, selling in two blocks at $220.95 and $230. After these trades, Brandt still listed 253,705 shares as beneficially owned. (SEC)
Lam on Feb. 5 announced its board cleared a quarterly dividend of $0.26 per share. The dividend hits shareholders of record as of March 4, with payment coming April 8. (Lam Research Newsroom)
U.S. stocks won’t trade again until Tuesday, with the NYSE shuttered on Monday, Feb. 16, in observance of Washington’s Birthday—also known as Presidents Day. Details are posted on the New York Stock Exchange website.
The risk is clear enough: chip-tool stocks can give back gains in a hurry if the spending narrative falters. Signs of slack in AI-related capacity increases, or even a softer-than-hoped memory rebound, can slam equipment makers riding the “multi-year cycle” theme.
Tuesday brings U.S. retail sales numbers and the Empire State manufacturing index into focus for traders. Then on Wednesday, industrial production figures hit, with the Fed’s FOMC minutes set for release at 14:00 ET. (scotiabank.com)
