Lam Research stock slips 3.43% as supply bottleneck stays in focus
Published on 11/03/2026 at 17:06 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSDemand Meets Delivery Constraints
- Lam Research posted record September-quarter revenue as AI, memory and advanced semiconductor demand supported equipment orders.
- Supply bottlenecks could shift some December-quarter shipments into March, making delivery capacity the key near-term execution test.
- The company expects wafer-fabrication-equipment spending to exceed 200 billion US dollars in calendar 2027.
Lam Research stock traded at 209.50 euros on Lang & Schwarz at 17:02 CET on Tuesday, November 3, 2026, down 3.43 percent from the 216.95-euro quote in the November 2 report. The comparison reflects the move since that report, not a Xetra daily performance measure.
The Economic Times reported on October 22 that Lam Research generated record September-quarter revenue of 8.22 billion US dollars, up 54 percent year over year and 22 percent sequentially. Adjusted earnings per share reached 2.20 US dollars, while adjusted gross and operating margins rose to 52.4 percent and 40.2 percent.
Supply Limits Near-Term Growth
Lam Research expects December-quarter revenue of 8.60 billion US dollars, plus or minus 400 million US dollars, and adjusted earnings per share of 2.33 US dollars, plus or minus 0.15 US dollars. Chief Financial Officer Doug Bettinger said the outlook would have been higher without near-term supply-chain constraints.
Some equipment shipments could move from the December quarter into March, although management did not quantify the potential revenue impact. That makes supplier capacity and the timing of customer projects more important for near-term revenue conversion than the strength of demand alone.
Memory systems revenue increased 120 percent from a year earlier, according to The Economic Times. China represented 35 percent of September-quarter revenue, but Lam Research expects that contribution to fall substantially in the December period as domestic Chinese spending weakens.
Long-Term Demand Remains Firm
Lam Research expects global wafer-fabrication-equipment spending to exceed 200 billion US dollars in 2027, compared with a mid-150-billion-dollar range for 2026. For investors, the next quarterly update should show whether delayed equipment converts into March-quarter revenue and whether supply constraints ease.
Investors can follow the real-time quote of Lam Research stock.
The S&P 500 provides the broader US equity backdrop for semiconductor-equipment shares.
More news and analyses are available in the Lam Research stock topic.
Lam Research Corporation
- ISIN: US5128073062
- Ticker: LRCX
- Lang & Schwarz quote: 209.50 euros on November 3, 2026, at 17:02 CET
- Quote in prior report: 216.95 euros on November 2, 2026, at 12:00 CET
- September-quarter revenue: 8.22 billion US dollars
- December-quarter revenue outlook: 8.60 billion US dollars, plus or minus 400 million US dollars
