Lam Research stock gains on Q4 beat & strong guidance

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CEO Tim Archer expressed satisfaction with Lam’s performance in Q4, highlighting that the company achieved profitability levels that surpassed the guided ranges.

“With our investment in a broad, differentiated product portfolio targeted to key technology inflections and a solid foundation for productive collaboration with customers, Lam Research is well positioned to outperform as semiconductors continue to become more critical to the global economy,” said Archer.

For Q1/24, the company expects EPS of $6.05 at the midpoint, compared to the consensus estimate of $5.60. Q1 revenue is expected to be $3.4B at the midpoint, compared to the consensus of $3.3B.