🔴 Lam Research is trading 10% down after supply constraints limited its December-quarter outlook

Lam Research is trading at $233.66, down 10.41%, as investors focused on a modest December-quarter outlook limited by near-term supply constraints.

• Lam Research reported record first-quarter revenue of $8.22 billion.
• Management expects China revenue to decline.
• The selloff was compounded by semiconductor-sector and broader technology weakness; SOXX fell 4.20% during the regular session.