Lam Research (LRCX) Q2 EPS of $1.82 Beats Estimates by $0.12

Lam Research (LRCX) reported Q2 EPS of $1.82, surpassing expectations of $1.70. The company provided guidance of $2.15 for the next quarter, exceeding the street estimate of $1.84. Following the earnings report, the stock rose approximately 20%. Currently, shares trade at about 30 times forward earnings against a full-year estimate of $9.40, which is near the historical high range. This matters for investors as the semiconductor equipment sector remains optimistic, indicated by increased capital expenditures from major players like Taiwan Semiconductor and Intel.