On August 19, Lam Research fell 3.43% in regular trading, trading at $316.77/share, with turnover of $435 million. The semiconductor equipment sector experienced broad-based weakness, with Teradyne down 5.3%, AXT Inc down 8.09%, Applied Materials down 3.29%, KLA Corporation down 2.95%, and ASML down 1.65%.

On the news front, surging long-term U.S. Treasury yields continued to pressure valuations of high-growth technology stocks. The Philadelphia Semiconductor Index plunged nearly 5% overnight, with the sharp overseas semiconductor volatility transmitting to broader markets through sentiment channels. Capital rotated out of AI momentum plays into defensive assets, amplifying selling pressure across the equipment subsector.

The company previously reported record quarterly revenue of $6.72 billion, with EPS of $1.82 and gross margins expanding to 51.7%. Fundamentals remain robust, and the current pullback is primarily driven by macro liquidity disruption and systematic sector-wide selling pressure rather than company-specific deterioration.

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