🔴 Lam Research is trading 10.1% down in pre-market as supply constraints could defer shipments

Lam Research is trading at $234.50, down 10.1%, following its October 21 earnings release, as supply constraints could defer shipments.

• Quarterly revenue was $8.22 billion and beat estimates.
• Management’s $8.6 billion revenue forecast was close to estimates, but would have been higher without supply constraints; China revenue is expected to fall significantly in the December quarter.
• The broader semiconductor sector was weak, with SOXX down 3.64% pre-market, adding pressure.