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Lam Research is sitting on potentially billions of dollars in additional sales from AI. The company is at the heart of development of high-end chips.
Lam Research's better-than-expected results and healthy guidance indicate that its fortunes are turning around. The company's revenue and earnings are set to rise impressively thanks to new catalysts such as AI, which is creating the need for more powerful memory chips.
Lam Research (LRCX) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
Explore how Lam Research's (LRCX) revenue from international markets is changing and the resulting impact on Wall Street's predictions and the stock's prospects.
Despite underwhelming guidance sending Meta Platforms' (META) stock lower following its Q1 earnings beat on Wednesday evening, several tech companies have seen their stocks pop after exceeding quarterly expectations yesterday as well.
Lam Research's (LRCX) fiscal third-quarter results reflect the impacts of sluggish memory spending.
Lam Research Corporation (NASDAQ:LRCX ) Q3 2024 Earnings Conference Call April 24, 2024 5:00 PM ET Company Participants Ram Ganesh - Investor Relations Timothy Archer - President and Chief Executive Officer Doug Bettinger - Executive Vice President and Chief Financial Officer Conference Call Participants Krish Sankar - TD Cowen Timothy Arcuri - UBS Harlan Sur - JPMorgan Chase & Co. Srinivas Pajjuri - Raymond James & Associates Christopher Muse - Cantor Fitzgerald & Co. Atif Malik - Citigroup Toshiya Hari - Goldman Sachs Group Joseph Moore - Morgan Stanley Stacy Rasgon - Sanford C. Bernstein & Co. Vivek Arya - Bank of America Merrill Lynch Christopher Caso - Wolfe Research Brian Chin - Stifel, Nicolaus & Company Operator Good day, everyone.
Lam Research (LRCX) came out with quarterly earnings of $7.79 per share, beating the Zacks Consensus Estimate of $7.26 per share. This compares to earnings of $6.99 per share a year ago.
The semiconductor equipment company reported revenue of $3.8 billion, up 0.9% from a year earlier.
Lam Research reported quarterly revenue above Wall Street expectations on Wednesday, as chipmakers ordered more of its equipment used to manufacture semiconductors for artificial intelligence applications.