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Lam Research Drops 2.6% as Q1 Revenue Disappoints

Lam Research Corporation (LRCX), a U.S.-based global supplier of wafer fabrication equipment and related services to the semiconductor industry, has posted lower-than-expected revenues for the first quarter of Fiscal 2022 (ended September 26). Meanwhile, earnings during the quarter beat analysts’ expectations. Following the results, shares of the company declined 2.6% in Wednesday’s extended trading session. The company reported adjusted earnings of $8.36 per share, topping analysts’ expectation