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Asia Markets

Update: US Equity Futures Rise Pre-Bell Amid Latest Big Tech Earnings, Fed Rate Decision

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were higher pre-bell Thursday as traders took note of the Federal Reserve's decision to leave interest rates unchanged, as well as the latest round of earnings from major tech players Microsoft (MSFT) and Meta Platforms (META).Dow Jones Industrial Average futures were 0.4% higher, S&P 500 futures were up 0.6%, and Nasdaq futures were 1.5% higher.The Fed held its policy rate steady in a divided decision, as three officials called for policy tightening. The Federal Open Market Committee maintained the target range for the federal funds rate at 3.50% to 3.75%, marking its fifth consecutive pause. The committee reiterated its pledge to "deliver price stability" as inflation remained above the 2% target amid supply shocks.Late Wednesday, Microsoft reported higher fiscal Q4 adjusted earnings and revenue, while Meta posted a decline in earnings and higher revenue for Q2.Apple (AAPL) is expected to report its fiscal Q3 earnings after the market closes. Analysts polled by FactSet expect earnings of $1.89 per share on revenue of $109.04 billion.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 1.1% at $87.12 per barrel and US West Texas Intermediate crude 0.8% lower at $83.80 per barrel.The June core personal consumption expenditures price index, the Federal Reserve's preferred inflation gauge, released at 8:30 am ET, slowed to 0.1% from a pace of 0.3% in the prior month and the expected 0.2% increase in estimates compiled by Bloomberg.Initial jobless claims rose to 197,000 in the week ended July 25 from an upwardly revised 188,000 level in the previous week, compared with expectations for an increase to 200,000. Q2 GDP growth was recorded at a 1.5% annual rate, compared with expectations for 2%.In other world markets, Japan's Nikkei closed 0.7% higher, Hong Kong's Hang Seng ended 0.2% higher, and China's Shanghai Composite finished 0.6% lower. Meanwhile, the UK's FTSE 100 was up 0.4%, and Germany's DAX index was 0.3% higher in Europe's early afternoon session.In equities, Microsoft shares rose 9% after the company's fiscal Q4 results topped expectations, driven by a revenue surge in cloud computing platform Azure. Lam Research (LRCX) stock was up 13% after the company posted better-than-expected fiscal Q4 adjusted earnings and revenue, as well as issued Q1 guidance that surpassed analysts' consensus. Arm (ARM) shares were 11% higher after the company reported a fiscal Q1 beat for adjusted earnings and revenue. Starbucks (SBUX) stock was up 4.4% after the company's fiscal Q3 adjusted earnings and revenue surpassed expectations and its fiscal 2026 adjusted EPS outlook was boosted.On the losing side, Meta stock was down nearly 10% after the company's Q2 earnings fell short of consensus estimates. Qualcomm (QCOM) shares fell 3.1% after the company reported lower fiscal Q3 adjusted earnings and revenue.

Dow JonesNasdaq CompositeS&P 500$AAPL$ARM$LRCX$META$MSFT$QCOM$SBUX
Japan

Update: US Equity Indexes Slide as Fed on Pause for Fifth Meeting; Investors Await Big Tech Results Amid Mounting Middle East Tensions

(Updates with index/price moves and Federal Reserve/geopolitical news from the first paragraph.)US equity indexes sank after the Federal Reserve left interest rates unchanged and as Iran's surprise missile attack on regional neighbors escalated war tensions ahead of Big Tech quarterly results post-bell.The Dow Jones Industrial Average sank 2.2% to 51,610.9, with the Nasdaq Composite down 1.2% to 24,577.4 and the S&P 500 lower by 1.2% to 7,339.1 ahead of Wednesday's close. All sectors except energy, communication services, and consumer staples declined. Industrials, financials, and utilities led the steepest decliners.Microsoft (MSFT), Meta Platforms (META), Lam Research (LRCX), Arm (ARM), and Qualcomm (QCOM) will report earnings after the bell on Wednesday, and investors will focus on what these companies will say about capital expenditures related to artificial intelligence and the state of free cash flows.The Fed held its policy rate steady in a divided decision, as three officials called for policy tightening. The Federal Open Market Committee maintained the target range for the federal funds rate at 3.50% to 3.75%, marking its fifth consecutive pause. Ahead of the decision, UBS Securities projected three dissenting votes as a base case. The committee reiterated its pledge to "deliver price stability" as inflation remained above the 2% target amid supply shocks.President Donald Trump said Iran will be hit hard, according to Fox News, after the US Central Command joined Saudi Arabian Armed Forces to conduct strikes in Iraq against Iran-aligned terrorists that the Islamic Revolutionary Guard Corps directed to attack US forces and Saudi energy infrastructure.The front-month US West Texas Intermediate jumped 6.8% to $84.63 a barrel, and global benchmark North Sea Brent surged 7.6% to $90.45 a barrel.US Treasury yields were mixed, with the 10-year up 5.3 basis points to 4.66% while the two-year dropped 4.6 basis points to 4.23%.

Dow JonesNasdaq CompositeS&P 500$ARM$LRCX$META$MSFT$QCOM$SMH
Asia Markets

Update: US Equity Indexes Slump Ahead of Fed Policy Moves, Big-Tech Results; Crude Oil Soars as Trump Vows to Hit Iran Hard

(Updates with index/price moves and Fed/company/geopolitical news from the first paragraph.)US equity indexes fell amid expectations of a tightening bias from the Federal Reserve and as Iran's surprise missile attack on regional neighbors escalated war tensions ahead of big-tech quarterly results post-bell.The Dow Jones Industrial Average declined 1.4% to 51,986.1, with the Nasdaq Composite down 0.7% to 24,697.2 and the S&P 500 lower by 0.7% to 7,376.8 after midday Wednesday. All sectors except energy, consumer staples, and consumer discretionary declined. Industrials, materials, and technology led the steepest decliners.Microsoft (MSFT), Meta Platforms (META), Lam Research (LRCX), Arm (ARM), and Qualcomm (QCOM) will report earnings after the bell on Wednesday, and investors will focus on what these companies will say about capital expenditures related to artificial intelligence and the state of free cash flows.Among companies with a market capitalization of more than $200 billion, eight of the 10 worst intraday performers were from the technology sector, according to data compiled by Finviz. VanEck Semiconductor ETF (SMH), with net assets of $77.2 billion, slumped 3.1% after midday.The Fed is likely to remain on hold at the 3.5% to 3.75% target range in its Wednesday policy announcement, according to the CME FedWatch tool. However, the probability that the target rate for fed funds will increase to 4.25%-4.5% in December jumped to 17% as of Wednesday afternoon from 9% a month ago, implying a significant tightening bias among some market participants.The tightening bias may have to be communicated more subtly through a more casual or veiled tone, Thierry Wizman, global foreign-exchange and rates strategist at Macquarie, said in a note. Alternatively, Fed Chair Kevin Warsh may have to accommodate the views of the more hawkish majority in his press conference on Wednesday by making his views more strident about promoting price stability "without delay," he said."And if that isn't enough, the more hawkish bias will spill out more forcefully in the comments and appearances by Fed officials in the days after today's FOMC meeting," Wizman said in the note. "But one way or another - including, perhaps, through dissent - the Fed's emerging tightening bias will find its way into the market today or the next few days."In geopolitical news, President Donald Trump said Iran will be hit hard, according to Fox News.The US Central Command said it joined Saudi Arabian Armed Forces to conduct strikes in Iraq against Iran-aligned terrorists that the Islamic Revolutionary Guard Corps directed to attack US forces and Saudi energy infrastructure.The front-month US West Texas Intermediate jumped 6.8% to $84.63 a barrel, and global benchmark North Sea Brent surged 7.6% to $90.45 a barrel.US Treasury yields jumped, with the 10-year up 3.5 basis points to 4.64% and the two-year higher by 4.5 basis points to 4.32%.In precious metal markets, gold futures were steady at $4,039.2, and silver futures rose 0.8% to $57.99.

Dow JonesNasdaq CompositeS&P 500$ARM$LRCX$META$MSFT$QCOM$SMH
Japan

Update: US Equity Indexes Slide Ahead of Warsh's Press Briefing, Big-Tech Results While Trump Vows to Hit Iran Hard

(Updates with index/price moves and Fed/company/geopolitical news from the first paragraph.)US equity indexes fell amid expectations of a tightening bias from the Federal Reserve and as Iran's surprise missile attack on regional neighbors escalated war tensions ahead of big-tech quarterly results post-bell.The Dow Jones Industrial Average slumped 1.6% to 51,891.2, with the Nasdaq Composite down 1.2% to 24,587.5 and the S&P 500 lower by 0.9% to 7,366.5.Microsoft (MSFT), Meta Platforms (META), Lam Research (LRCX), Arm (ARM), and Qualcomm (QCOM) will report earnings after the bell on Wednesday, and investors will focus on what these companies will say about capital expenditures related to artificial intelligence and the state of free cash flows.Among companies with a market capitalization of more than $200 billion, eight of the 10 worst intraday performers were from the technology sector, according to data compiled by Finviz. VanEck Semiconductor ETF (SMH), with net assets of $77.2 billion, slumped 3.1% after midday.The Fed is likely to remain on hold in the 3.5% to 3.75% target range in July, according to the CME FedWatch tool. However, the probability that the target rate for fed funds will increase to 4.25%-4.5% in December jumped to 17% as of Wednesday afternoon from 9% a month ago, implying a significant tightening bias among some market participants.In geopolitical news, President Donald Trump said Iran will be hit hard, according to Fox News.The US Central Command said it joined Saudi Arabian Armed Forces to conduct strikes in Iraq against Iran-aligned terrorists that the Islamic Revolutionary Guard Corps directed to attack US forces and Saudi energy infrastructure.The front-month US West Texas Intermediate jumped 7.2% to $84.93 a barrel, and global benchmark North Sea Brent surged 7.8% to $90.65 a barrel.

Dow JonesNasdaq CompositeS&P 500$ARM$LRCX$META$MSFT$QCOM$SMH
Japan

Update: US Equity Futures Rise Pre-Bell as Oil Prices Drop Amid Pause in Middle East Hostilities

US equity futures rose pre-bell Monday as oil prices declined amid a pause in hostilities between the US and Iran over the weekend.Dow Jones Industrial Average futures were 1.1% higher, S&P 500 futures were up 0.8%, and Nasdaq futures were 1.3% higher.The US did not strike any Iranian targets on Saturday or Sunday after 13 consecutive nights of attacks. The US ambassador to the United Nations, Mike Waltz, told Fox News that President Donald Trump has halted the attacks for the meantime to allow more time for diplomacy. Iran said it will suspend its own attacks as long as the US does the same, Reuters reported Sunday, citing a senior Iranian official.Traders anticipate another round of earnings this week, kicked off by AstraZeneca (AZN), which posted higher Q2 core earnings and revenue.Microsoft (MSFT), Meta Platforms (META), Apple (AAPL), Amazon.com (AMZN), Lam Research (LRCX), and Arm (ARM) are set to release their financial results this week. Anticipated earnings also include Seagate Technology (STX), Qualcomm (QCOM), Procter & Gamble (PG), Visa (V), and Mastercard (MA).Traders also look forward to the Federal Reserve's policy session and rate statement, slated for Wednesday.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 5.2% at $86.94 per barrel and US West Texas Intermediate crude 6% lower at $83.97 per barrel.Durable goods new orders rose 0.3% in June after a 4.0% decline in the prior month, compared with expectations for a 1.8% increase in a survey compiled by Bloomberg. The Dallas Fed manufacturing survey for July will be released at 10:30 am ET.In other world markets, Japan's Nikkei closed 0.5% higher, Hong Kong's Hang Seng ended 1% higher, and China's Shanghai Composite finished 1.2% higher. Meanwhile, the UK's FTSE 100 was up 0.4%, and Germany's DAX index was 1.6% higher in Europe's early afternoon session.In equities, energy-related stocks were on the downswing due to the drop in oil prices. Exxon Mobil (XOM) shares fell 3.4%, Chevron (CVX) stocks were down 2.7%, and Shell (SHEL) shares were 2.3% lower.On the winning side, Broadcom (AVGO) stock was up 2.1% after the company and Samsung Electronics said they signed a memorandum of understanding to expand their strategic collaboration across memory and foundry technologies to support next-generation artificial intelligence infrastructure. Advanced Micro Devices (AMD) shares rose 2.2% after a Korea Times report cited the Ministry of Science and ICT as saying that the company partnered with South Korea to establish an artificial intelligence research facility and expand computing infrastructure. Toyota Motor (TM) stock was up 1.6% after the company said it signed a binding agreement with Volvo Group and Daimler Truck to acquire a one-third stake in fuel-cell joint venture Cellcentric.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMD$AMZN$ARM$AVGO$AZN$CVX$LRCX$MA$META$MSFT$PG$QCOM$SHEL$STX$TM$V$XOM
Japan

US Equity Futures Rise Pre-Bell as Oil Prices Drop Amid Pause in Middle East Hostilities

US equity futures rose pre-bell Monday as oil prices declined amid a pause in hostilities between the US and Iran over the weekend.Dow Jones Industrial Average futures were 1.1% higher, S&P 500 futures were up 0.9%, and Nasdaq futures were 1.4% higher.The US did not strike any Iranian targets on Saturday or Sunday after 13 consecutive nights of attacks. The US ambassador to the United Nations, Mike Waltz, told Fox News that President Donald Trump has halted the attacks for the meantime to allow more time for diplomacy. Iran said it will suspend its own attacks as long as the US does the same, Reuters reported Sunday, citing a senior Iranian official.Traders anticipate another round of earnings this week, kicked off by AstraZeneca (AZN), which posted higher Q2 core earnings and revenue.Microsoft (MSFT), Meta Platforms (META), Apple (AAPL), Amazon.com (AMZN), Lam Research (LRCX), and Arm (ARM) are set to release their financial results this week. Anticipated earnings also include Seagate Technology (STX), Qualcomm (QCOM), Procter & Gamble (PG), Visa (V), and Mastercard (MA).Traders also look forward to the Federal Reserve's policy session and rate statement, slated for Wednesday.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 6.5% at $85.74 per barrel and US West Texas Intermediate crude 6.8% lower at $83.23 per barrel.The June durable goods orders report is expected to show a 1.8% increase after a decline of 4.5% in the prior month, according to estimates compiled by Bloomberg. The Dallas Fed manufacturing survey for July will be released at 10:30 am ET.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$ARM$AZN$LRCX$MA$META$MSFT$PG$QCOM$STX$V
Asia Markets

Update: US Equity Futures Drop as AI Concerns Weigh on Tech Stocks, Middle East Conflict Continues

US equity futures were edging lower pre-bell Friday as concerns over artificial intelligence spending weighed on chip stocks and the wider technology sector, while the conflict in the Middle East showed no signs of de-escalating.Dow Jones Industrial Average futures were 0.5% lower, S&P 500 futures were down 0.9%, and Nasdaq futures were 1.9% lower.Global tech stocks continued their drop from the previous session, including Nvidia (NVDA), which was down 2.6% in premarket activity.US Central Command said in a post on X that it completed the sixth consecutive wave of attacks against Iran, degrading the nation's military capabilities and holding it "accountable" for recent attacks on commercial shipping in the Strait of Hormuz.Iran said it had targeted US military forces in Syria and Bahrain in a broadening of the scope of its attacks in the Middle East.Traders assessed the latest round of earnings, with Netflix (NFLX) reporting an increase in fiscal Q2 earnings and revenue on late Thursday.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 2.4% at $86.20 per barrel and US West Texas Intermediate crude 2.5% higher at $80.95 per barrel.June housing starts rose to a 1.427 million annual rate from 1.199 million in the previous month, compared with expectations for a 1.31 million rate in a survey compiled by Bloomberg. US import prices rose 0.3% in June, above the 0.7% increase expected and below the 1.7% gain in May. US export prices fell 0.6% in June, compared with the 0.7% decrease expected and the 1.2% increase in the prior month.The June industrial production report, due at 9:15 am ET, is forecast to show a 0.2% gain following a 0.1% increase in the prior month. The University of Michigan consumer sentiment index for July, slated for 10 am ET, is expected at 51.0, up from 49.5 previously.In other world markets, Japan's Nikkei closed 4% lower, Hong Kong's Hang Seng ended 1.8% lower, and China's Shanghai Composite finished 3.1% lower. Meanwhile, the UK's FTSE 100 was flat, and Germany's DAX index was 0.5% lower in Europe's early afternoon session.In equities, included in the tech stock sell-off were Applied Materials (AMAT), Lam Research (LRCX), and Intel (INTC), which were down 5.3%, 4.7%, and 4.5%, respectively. SpaceX (SPCX) shares fell 4.4% after CEO Elon Musk said in a post on X that the company's Starship rocket triggered an "automatic launch abort" Thursday, with the next launch to be rescheduled possibly "in a few days." Netflix stock was down 11% after it posted Q2 revenue that fell short of analysts' consensus estimates.On the winning side, energy-related stocks rose along with the increase in oil prices. Exxon Mobil (XOM) shares were 2% higher, Shell (SHEL) stock was up 2.1%, and TotalEnergies (TTE) shares were up 2.3%.

Dow JonesNasdaq CompositeS&P 500$AMAT$INTC$LRCX$NFLX$NVDA$SHEL$SPCX$TTE$XOM
Wire

UBS Raises Lam Research Price Target to $435 From $375, Maintains Buy Rating

Lam Research (LRCX) has an average rating of overweight and mean price target of $376.82, according to analysts polled by FactSet.Price: $342.00, Change: $-4.10, Percent Change: -1.18%

$LRCX
Insider Trading

Lam Research Insider Sold Shares Worth $6,124,470, According to a Recent SEC Filing

Abhijit Y Talwalkar, Director, on July 13, 2026, sold 18,282 shares in Lam Research (LRCX) for $6,124,470. Following the Form 4 filing with the SEC, Talwalkar has control over a total of 87,142 common shares of the company, with 87,142 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/707549/000131606526000012/xslF345X05/wk-form4_1784048170.xmlPrice: $346.59, Change: $+16.67, Percent Change: +5.05%

$LRCX
Asia Markets

Update: US Equity Futures Mixed Pre-Bell as Middle East Tensions Intensify, Major US Banks Post Earnings

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were mixed pre-bell Tuesday as traders monitored the unabated rise of tensions in the Middle East, as well as the financial results of major US banks.Dow Jones Industrial Average futures were 0.4% lower, S&P 500 futures were flat, and Nasdaq futures were 0.7% higher.US Central Command completed another series of attacks against Iran on Monday night, its third consecutive wave, aiming to "continue imposing a heavy cost on Iranian forces and degrade their ability to attack innocent civilians and commercial shipping in the Strait of Hormuz," the command said in a post on X.Meanwhile, President Trump said the US is reinstating the blockade on Iranian vessels. "The U.S.A. will be, from this point forward, known as "THE GUARDIAN OF THE HORMUZ STRAIT," but as such, and as a matter of FAIRNESS, will be reimbursed, at the rate of 20% on all cargo shipped," Trump said in a post on Truth Social.Traders digested the latest round of earnings, with JPMorgan Chase (JPM), Bank of America (BAC), Wells Fargo (WFC), and Goldman Sachs Group (GS) all reporting higher Q2 earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 4.4% at $86.92 per barrel and US West Texas Intermediate crude 3.1% higher at $80.53 per barrel.The June consumer price index, released at 8:30 am ET, fell 0.4%, compared with a 0.5% gain in the previous month, and wider than an expected 0.4% decrease in a survey compiled by Bloomberg.New Federal Reserve Chair Kevin Warsh will deliver his first semi-annual monetary policy report to the House Financial Services Committee, starting at 10 am ET.Federal Reserve Governors Lisa Cook, Michael Barr, Michelle Bowman, and Chicago President Austan Goolsbee are slated to speak on Tuesday.In other world markets, Japan's Nikkei closed 0.7% higher, Hong Kong's Hang Seng ended 0.5% higher, and China's Shanghai Composite finished 1.4% higher. Meanwhile, the UK's FTSE 100 was flat, and Germany's DAX index was 0.9% lower in Europe's early afternoon session.In equities, IBM (IBM) shares fell 22% after the company said it expects Q2 earnings and revenue to be below analysts' consensus estimates. Several major US bank stocks were down after reporting Q2 financial results. JPMorgan Chase shares dropped 2.3%, Bank of America stock was down 1.8%, and Wells Fargo shares were 1.4% lower.On the winning side, stocks of ASML (ASML), Applied Materials (AMAT), and Lam Research (LRCX) rose as part of a broader rebound in the semiconductor sector after a previous sell-off. ASML shares rose 3%, Applied Materials stock was up 6.1%, and Lam Research shares were 6.1% higher. Goldman Sachs shares increased 4% after the bank posted its Q2 financial results.

Dow JonesNasdaq CompositeS&P 500$AMAT$ASML$BAC$GS$IBM$JPM$LRCX$WFC
Wire

Deutsche Bank Adjusts Price Target on Lam Research to $385 From $325

Lam Research (LRCX) has an average rating of overweight and mean price target of $370.04, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $354.15, Change: $+21.00, Percent Change: +6.30%

$LRCX
Wire

Susquehanna Adjusts Price Target on Lam Research to $475 From $385, Maintains Positive Rating

Lam Research (LRCX) has an average rating of overweight and mean price target of $356, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $402.34, Change: $+23.25, Percent Change: +6.13%

$LRCX
Insider Trading

Lam Research Insider Sold Shares Worth $20,011,346, According to a Recent SEC Filing

Eric Brandt, Director, on June 12, 2026, sold 54,500 shares in Lam Research (LRCX) for $20,011,346. Following the Form 4 filing with the SEC, Brandt has control over a total of 144,705 common shares of the company, with 144,705 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/707549/000119063926000006/xslF345X05/wk-form4_1781566408.xml

$LRCX
Insider Trading

Lam Research Insider Sold Shares Worth $19,118,360, According to a Recent SEC Filing

Eric Brandt, Director, on June 11, 2026, sold 54,500 shares in Lam Research (LRCX) for $19,118,360. Following the Form 4 filing with the SEC, Brandt has control over a total of 199,205 common shares of the company, with 199,205 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/707549/000119063926000004/xslF345X05/wk-form4_1781540828.xmlPrice: $389.08, Change: $+22.27, Percent Change: +6.07%

$LRCX
Wire

Cantor Fitzgerald Adjusts Lam Research Price Target to $425 From $320, Maintains Overweight Rating

Lam Research (LRCX) has an average rating of overweight and mean price target of $330.97, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $346.00, Change: $+18.84, Percent Change: +5.76%

$LRCX
Research

Research Alert: CFRA Maintains Buy Rating On Shares Of Lam Research Corporation

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lift our price target by $42 to $356, 33.5x our FY 28 EPS view ($10.63), above LRCX's three-year average (~20x) given growing AI tailwinds across logic/memory/packaging. We keep our FY 26 EPS view at $5.72, raise FY 27's by $0.17 to $8.25 and raise FY 28's by $0.18 to $10.63. Our target increase owes to strong results across the semi/semi equip space during this earnings cycle and growing hyperscaler capex forecasts, which is bumping up our WFE views (now expecting $155B in 2026 from a prior view of $140B). We also note a rapid pace of NAND price increases (up 5-10x YTD), creating a supportive pricing environment that should drive an improving outlook for utilization/upgrade spending as companies look to maximize existing cleanroom space. We remind investors that LRCX recently accelerated its $40B NAND upgrade spending forecast from "several years" to YE CY 27. Greenfield equipment sales will still need to wait for new fabs to be built (more of a FY 28 story), but upgrades offer faster revenue realization.

$LRCX
Research

Morgan Stanley Upgrades Lam Research to Overweight From Equalweight, Adjusts PT to $331 From $293

Lam Research (LRCX) has an average rating of overweight and mean price target of $316.83, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$LRCX
Applied Materials Poised for Slight Quarterly Beat, Strong Outlook, RBC Says
US Markets

Applied Materials Poised for Slight Quarterly Beat, Strong Outlook, RBC Says

Applied Materials (AMAT) is expected to post fiscal second-quarter results slightly above Wall Street's estimates and provide an upbeat third-quarter outlook amid robust dynamic random-access memory and high-bandwidth memory spending trends, RBC Capital Markets said in a note e-mailed Tuesday.The brokerage projects the semiconductor equipment maker's second-quarter adjusted earnings at $2.64 a share on revenue of $7.65 billion, saying it expects a "slight" beat. Analysts polled by FactSet are looking for non-GAAP EPS of $2.68 and sales of $7.68 billion."DRAM spending trends remain strong on the back of extreme supply tightness and secular HBM demand," RBC analyst Srini Pajjuri said in a note to clients. "We expect the trend to continue through the year as clean room space availability improves and from new greenfield projects in 2027."RBC expects Applied Materials to issue third-quarter guidance 5% to 10% ahead of consensus estimates of $2.89 for adjusted EPS and $8.1 billion in revenue. The brokerage said this would be in line with peers Lam Research (LRCX) and Tokyo Electron and better than those of ASML (ASML) and KLA (KLAC)."(Applied Materials') management typically doesn't offer explicit (wafer fabrication equipment, or WFE) projections, but previously guided for 20% growth in its systems business in (2026), which we believe is tracking ahead," Pajjuri said.RBC raised its price target on the Applied Materials stock to $500 from $430 while reiterating its outperform rating.The company's shares were down 5.8% in Tuesday afternoon trade. The stock has jumped 63% so far this year.Transition to gate all around -- a next-generation transistor architecture for smaller chips -- has been a "key driver" from the company, while Taiwan Semiconductor Manufacturing's (TSM) adoption of back-side power is projected to be a tailwind in the second half of this year, RBC said."Looking ahead, we expect WFE to grow at a double-digit pace for the next (two to three) years driven by (generative artificial intelligence), extreme tightness in DRAM, and growing competition in advanced foundry," Pajjuri said.Applied Materials is scheduled to report its latest results Thursday.Price: $419.71, Change: $-23.91, Percent Change: -5.39%

$AMAT$ASML$KLAC$LRCX$TSM
Research

Seaport Global Initiates Lam Research at Buy With $300 Price Target

Lam Research (LRCX) has an average rating of overweight and mean price target of $314.31, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$LRCX
Insider Trading

Lam Research Insider Sold Shares Worth $4,635,894, According to a Recent SEC Filing

Neil J Fernandes, Senior Vice President, on May 01, 2026, sold 18,170 shares in Lam Research (LRCX) for $4,635,894. Following the Form 4 filing with the SEC, Fernandes has control over a total of 67,144 common shares of the company, with 66,129 shares held directly and 1,015 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/707549/000070754926000024/xslF345X05/wk-form4_1777915449.xmlPrice: $259.38, Change: $+2.74, Percent Change: +1.07%

$LRCX

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