XM does not provide services to residents of the United States of America.

Lam Research forecasts quarterly revenue above estimates on AI chip demand



<html xmlns="http://www.w3.org/1999/xhtml"><head><title>Lam Research forecasts quarterly revenue above estimates on AI chip demand</title></head><body>

Oct 23 (Reuters) -Lam Research LRCX.O forecast revenue for the December quarter above Wall Street expectations on Wednesday, as chipmakers ordered more of its equipment used to manufacture semiconductors for artificial intelligence applications.

Shares of the Fremont, California-based company rose 5% in trading after the bell.

Businesses across sectors have been racing to incorporate AI capabilities after OpenAI's ChatGPT caught the attention of consumers and investors alike, benefiting companies like Lam.

The AI boom has also helped chipmakers cushion a post-pandemic downturn in demand for personal computers and smartphones.

Lam, Applied Materials AMAT.O and Dutch firm ASML ASML.AS are among the few main suppliers of wafer fabrication equipment — sophisticated and expensive machinery used to make semiconductors.

The company expects revenue for the current quarter ending Dec. 29 at $4.30 billion, plus or minus $300 million, compared with analysts' estimate of $4.24 billion, according to data compiled by LSEG.

Lam posted revenue of $4.17 billion for the three months ended Sept. 29, beating estimates of $4.05 billion.



Reporting by Juby Babu in Mexico City; editing by Alan Barona

</body></html>

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.