Lam Research Corporation is trading 10.4% down at $5.70 as investors dump high-valuation tech and chip names following a strong U.S. jobs report that reinforced a more hawkish Fed outlook.
- The stock is falling in tandem with a sharp Nasdaq decline and a broader semiconductor pullback tied to recent sector weakness following Broadcom’s post-earnings drop.
- No company-specific news has been identified as the primary driver for the move, indicating the decline is part of a broader market rotation out of high-growth tech names.