Lam Research slips from highs as Wall Street’s AI trade cools
Lam Research stock dropped 2.6% to $310.58 early Thursday on Nasdaq after a strong rally. Shares started at $317.45 and hit a session low at $309.82. Mizuho lifted its price target on Lam to $380 from $330 on Wednesday and kept its Outperform rating. The firm also bumped up its 2026 and 2027 wafer-fab equipment forecasts. WFE, or wafer-fab equipment, refers to the gear chipmakers use to put circuits on silicon wafers. The move landed at a time when it couldn’t be shrugged off as just noise.