NEW YORK, January 3, 2026, 05:31 ET — Market closed.
- Lam Research shares rose 8.1% in the last session, riding a broad semiconductor rally.
- Chip-equipment names led gains as investors rotated back into AI-linked stocks.
- Next week’s U.S. data calendar is set to test the rate outlook that’s been steering tech valuations.
Lam Research Corporation shares closed up 8.1% at $185.06 on Friday, as the chip-equipment maker outperformed in the market’s first trading session of 2026. U.S. markets are closed on Saturday.
The move mattered beyond one ticker because chip stocks helped lift the broader market after a rough stretch into year-end. The Philadelphia SE Semiconductor index, a widely watched gauge of U.S. chip shares, rose about 4% on Friday, Reuters reported. “Buy the dip, sell the rip,” is the mentality driving flows, said Joe Mazzola, head of trading & derivatives strategist at Charles Schwab. Reuters
Friday’s strength clustered around semiconductors and the equipment names that supply them — a proxy for capital spending on advanced chips used in AI servers. ASML jumped more than 8% after Aletheia Capital double-upgraded the stock to “buy,” while Applied Materials and KLA each gained more than 4%, Nasdaq.com reported. Higher bond yields remained a headwind for the growth-heavy Nasdaq, with the 10-year Treasury yield ending near 4.19%. Nasdaq
A market report also pointed to a Citi catalyst for Lam. Shares jumped earlier in the session after the company was named to Citi’s Large Cap Recommended list for 2026, according to SwingTradeBot, which linked to a Yahoo Finance write-up. SwingTradeBot
Analyst commentary stayed supportive. TD Cowen raised its price target for Lam to $170 and kept a “buy” rating, citing demand from China, while Cantor Fitzgerald reiterated an “overweight” rating, Investing.com reported. The same report noted Lam’s quarterly dividend of $0.26 per share is scheduled to be paid on Jan. 7. Investing
A price target is an analyst’s estimate of where a stock could trade over the next year, not a guarantee. “Overweight” is Wall Street shorthand for a call that a stock should outperform its sector or benchmark.
Lam, based in Fremont, California, sells wafer fabrication equipment — the tools chipmakers use to build and pattern chips on silicon wafers. Investors closely track the company because orders tend to move with customers’ spending plans, especially for memory and advanced “foundry” manufacturing tied to AI chips.
Before Monday’s opening bell, traders will focus on U.S. manufacturing data for fresh reads on growth and inflation pressure. The ISM manufacturing PMI is due Monday at 10:00 a.m. ET and is forecast at 48.4, according to an Investing.com market preview — below 50, which signals contraction. Investing
The next big macro test comes later in the week, when the U.S. government is scheduled to release the December employment report on Friday, Jan. 9, followed by the December CPI report on Tuesday, Jan. 13, according to the Bureau of Labor Statistics calendar. Bureau of Labor Statistics
For Lam-specific catalysts, third-party calendars are pointing to late January for the next earnings report, with TipRanks listing Jan. 28. Lam’s investor events page has not yet posted a January earnings call entry. TipRanks
