WS #16334
Lam Research (LRCX) has fallen over 10% in the current session, decoupling from its recent earnings beat. Analysts have cut price targets citing persistent supply chain constraints and a high trailing P/E multiple that is no longer justified by near-term growth visibility. This move highlights specific headwinds in semiconductor equipment demand that contradict the broader AI-driven tech rally, suggesting that not all mega-cap tech beneficiaries are immune to operational bottlenecks.
Semiconductor Supply Constraints
Lam Research (LRCX) has fallen over 10% in the current session, decoupling from its recent earnings beat. Analysts have cut price targets citing persistent supply chain constraints and a high trailing P/E multiple that is no longer justified by near-term growth visibility. This move highlights specific headwinds in semiconductor equipment demand that contradict the broader AI-driven tech rally, suggesting that not all mega-cap tech beneficiaries are immune to operational bottlenecks.