Lam Research is set to report its fiscal Q3 2026 results on April 22. The company has experienced four consecutive earnings beats, with a recent revenue of $5.344 billion, exceeding estimates by 2.01%. CEO Tim Archer anticipates Q3 revenue to reach $5.70 billion. However, the stock has seen a pullback from $252.41 to $218.90. Key factors to watch include gross margin trends, which have declined slightly, and the impact of China revenue concentration, which has decreased from 43% to 35%. Investor sentiment will hinge on these elements.
"Lam Research reported $5.344 billion in revenue last quarter, beating estimates by 2.01% and growing 22.14% year over year. Non-GAAP EPS was $1.27, exceeding the consensus by 8.7%."
"CEO Tim Archer guided Q3 revenue to $5.70 billion, indicating continued acceleration despite a stock pullback from $252.41 to $218.90, while still up 27.76% year to date."
"Gross margin has compressed slightly over the past two quarters, with guidance pointing to approximately 49.0% in Q3, influenced by tariff pressures and customer mix shifts."
"China represented 35% of Q2 revenue, down from 43% in Q1 FY26, and any commentary on export control risks or customer behavior shifts will significantly impact investor sentiment."
Read at 24/7 Wall St.
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