🔴 Lam Research is trading 3.3% down today on profit-taking after a sharp rally tied to ASML’s AI outlook

Lam Research is trading 3.3% down today at $334.73 as investors lock in profits following a significant sector-wide rally.

• The stock previously surged 4.9% on July 14 and rose 3.6% in pre-market trading on July 15, fueled by ASML’s bullish AI-driven forecast and improved sentiment around wafer-fab equipment demand.
• Despite today's pullback, the broader semiconductor sector remains supported by positive trends in memory and capital expenditure.