Lam Research slips from highs as Wall Street’s AI trade cools
Lam Research shares fell 2.6% to $310.58 Thursday morning on Nasdaq, following a recent rally and a new Mizuho price target of $380. Peers Applied Materials and KLA also declined. Lam reported March-quarter revenue of $5.84 billion and projected June-quarter revenue of $6.6 billion. The company gets 34% of its revenue from China, raising exposure to U.S. export curbs.
