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Lam Research: China Risks vs. NAND Demand (LRCX Stock Analysis)
Lam Research (LRCX) just released its September 2025 quarter earnings. Can the wafer fab equipment leader sustain its run?
<br>We break down the critical China sales concern (43% of revenue) and the US BIS affiliate rule impact, which forecasts a $200 million revenue hit in the December quarter and $600 million for calendar year 2026. Management expects demand from other regions (U.S., Taiwan, Korea) to offset these restrictions.
<br>Foundry, led by TSMC and other chip fabs, drove 60% of sales. Rising NAND demand is a key long-term tailwind. Q3 revenue was $5.32 billion. Lam’s large customer…
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