NEW YORK, Feb 16, 2026, 18:01 EST — Markets have wrapped up for the day.
- Lam Research finished at $235.53, a gain of 1.8%. U.S. cash markets were closed for Presidents Day.
- Chip equipment shares have been moving on AI spending buzz and signals from a narrowing memory market.
- Feb. 18 brings the Fed minutes, and two days later, the U.S. GDP report lands—both on traders’ radar for signals on rates and growth prospects.
Lam Research Corp closed out Friday at $235.53, up 1.8%. Shares will sit idle Monday as U.S. markets pause for Presidents Day.
This break squeezes the week, pushing investors to lean on futures and fresh headlines until cash markets reopen Tuesday. Moves in chip-equipment stocks have come fast, often reacting instantly to signals on factory capex and the AI build-out price tag.
With trading volumes muted by the holiday, global equities held steady Monday. U.S. stock and bond markets stayed closed, but futures made modest gains, according to Reuters. Deutsche Bank strategist Jim Reid said his economists are projecting U.S. fourth-quarter growth will cool to 2.5%. 1
Lam shares the field with competitors who just saw Applied Materials shake things up, after the chipmaker’s latest forecast blew past Wall Street for its second quarter—AI processors and a tightening memory market did the heavy lifting. CEO Gary Dickerson credited “the acceleration of industry investments in AI computing” for the bullish outlook. Over at Rothschild & Co. Redburn, analyst Timm Schulze-Melander called memory “a greater growth driver near-term.” 2
Fremont, California-based Lam supplies etch and deposition equipment to chipmakers producing both memory chips and so-called “logic” chips—the brains behind servers and smartphones. Orders for these tools can swing quickly as customers adjust their capital spending up or down.
The stock’s direction now looks tied less to Lam’s own news flow and more to how much appetite investors have for the broader AI supply chain. Interest rates are key—when yields fall, tech names usually get a boost. A move higher, though, puts pressure on the group.
Investors will be watching for the Federal Reserve’s Jan. 27-28 meeting minutes, set for release Wednesday, Feb. 18 at 2:00 p.m. ET. 3
Friday, Feb. 20 brings what could be the week’s headline number: the government will put out its advance fourth-quarter GDP estimate at 8:30 a.m. ET. 4
But the dynamic swings both directions. If memory prices slip, fab construction slows, or new limits hit shipping or servicing advanced tools in China, then forecasts for equipment demand could get squeezed fast.
Lam Research investors face their first hurdle with Tuesday’s reopening. Next up, attention swings to Washington: the Fed minutes hit Feb. 18, GDP lands Feb. 20. It’ll also matter if other chip-tool companies keep touting AI-related demand.
