Why Lam Research (LRCX) Stock Is Trading Lower
Portfolio Pulse from Henry Khederian
Lam Research (LRCX) shares are trading lower by 6.5% due to Intel's weaker-than-expected Q2 results, which also led to a 27% drop in Intel's stock. Intel's financial struggles could impact its suppliers, including Lam Research.
August 02, 2024 | 4:23 pm
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Intel shares dropped 27% following weaker-than-expected Q2 results, a 15% workforce reduction, and dividend suspension. This reflects broader struggles to compete with leading chipmakers.
Intel's disappointing Q2 results and significant operational changes indicate ongoing financial and competitive challenges, leading to a sharp decline in stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Lam Research shares fell 6.5% due to Intel's disappointing Q2 results and subsequent 27% stock decline. Intel's financial struggles could reduce orders from Intel, impacting Lam Research's revenue and profitability.
Intel is a significant customer for Lam Research. A decline in Intel's profitability or capital expenditure could lead to reduced orders from Intel, negatively impacting Lam Research's revenue and profitability.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100