Lam Research Corp is trading at $320.38 (+5.64%) after reporting a strong quarter and providing an upbeat June-quarter outlook that exceeded market expectations.
- The company posted revenue of $5.84 billion and non-GAAP EPS of $1.47, with next-quarter guidance set at $6.60 billion (plus or minus $400 million).
- Management's commentary reinforced expectations for stronger wafer-fab equipment demand and a significant increase in AI-related spending.
- Broader semiconductor stocks are also rebounding after last week’s selloff, providing additional tailwinds for the stock's upward momentum.