🟢 Lam Research is trading 10.3% up in pre-market as chip stocks rebound after Thursday’s tech-led sell-off

Lam Research is trading at $204.18, up +10.25%, as chip stocks recover in pre-market after Thursday’s sharp technology-led sell-off.

• Reuters reported Nasdaq futures climbed as chip stocks gained ground, with several major chipmakers up 5% to 8.3% pre-market.
• On November 5, Lam Research announced a $25 billion share-repurchase authorization and a $0.33 quarterly dividend; available coverage does not establish these announcements as the main driver of this morning’s move.