LRCX · EARNINGS RESULTS · 2026-10-22

Why Lam Research (LRCX) Stock Is Down Today: Fiscal Q1 2027 Earnings

By Stocks To Buy Now AI Research · Published 2026-10-22 17:58 UTC

LRCX -10.96%

$232.22 · Snapshot as of Oct 22, 2026, 1:51 PM New York time

This is a dated snapshot, not a live quote. “Today” refers to the 2026-10-22 U.S. market session.

Earnings and the stock move

Lam Research shares fell in the October 22 regular-session snapshot after its October 21 release for fiscal Q1 2027, the quarter ended September 27. Revenue, margins and earnings increased, and management guided the December quarter to $8.6 billion in revenue at the midpoint. The observed selloff is an earnings reaction; the verified release alone does not establish a single cause for the decline, so this report does not label the guidance a miss or invent a negative company announcement. Technical charts use the October 21 completed session and exclude the following day’s selloff.

Fiscal Q1 2027 earnings recap

Lam Research reported fiscal Q1 2027 revenue of $8.22 billion, up 54% year over year and 22% from the previous quarter.

GAAP diluted EPS reached $2.19, compared with $1.24 a year earlier; adjusted diluted EPS was $2.20.
Gross margin reached 52.3% on a GAAP basis and 52.4% on an adjusted basis.
GAAP operating margin was 40.0%, while adjusted operating margin reached 40.2%.
Systems revenue totaled $5.733 billion, while customer support-related revenue and other contributed $2.487 billion.
December-quarter guidance calls for revenue of $8.6 billion, plus or minus $400 million, and diluted EPS of $2.33, plus or minus $0.15.
Cash, cash equivalents and restricted cash increased to $7.45 billion; deferred revenue reached $2.66 billion.

Strong reported growth can coexist with a falling share price; semiconductor spending cycles and execution remain key risks.

Financials and technicals

Technical charts use the 2026-10-21 completed close. The intraday move above may reflect news released after that close.

Lam Research (LRCX) financials research infographic — Financials · Open image to inspect the full-size report.

Lam Research (LRCX) technicals research infographic — Technicals · Open image to inspect the full-size report.

Lam Research (LRCX) stock information

Sells deposition, etch and clean systems plus spares, upgrades and service.

SEMICONDUCTOR FABRICATION EQUIPMENT. Financial and valuation snapshot at the 2026-10-21 completed close; estimates and reporting dates are shown in the financial infographic.

Completed close · 2026-10-21: $260.81
Indicative market capitalization: $326.36 billion
FY2026 revenue: $23.23 billion
P/E · TTM GAAP: 38.87×
Forward P/E · FY2027E: 27.51×
RSI (14) · 2026-10-21: 31.8

Explore Lam Research stock financials, earnings and research →

Technical setup and risks

Conditional recovery: reclaiming $278 and holding a retest would improve the damaged short-term structure. The prior $259–266 and $250–254 zones come from completed daily bars and may already be broken by the October 22 earnings reaction. Below $250, downside risk remains; require stabilization and volume confirmation rather than assuming a falling stock is a bargain. No new support below the observed range is asserted.

Research references

AI-assisted research with source and calculation checks. Price snapshots may be delayed. Technical charts use the stated completed session, which can precede the quoted intraday move. Educational information; investing involves risk.