🟢 Lam Research is trading 10% up today after board approved a $25 billion repurchase authorization

Lam Research is trading at $203.79, up 10.04%, after its board approved a $25 billion share repurchase authorization after Thursday’s close.

• The authorization supplements the prior program and does not require Lam Research to repurchase shares.
• Chip stocks rebounded Friday after Thursday’s selloff as investors reassessed fears about AI regulation and data-center construction.
• A report called the buyback the clearest reason for Lam Research’s extra gain over chip-equipment peers.