On July 29, Lam Research fell 3.07% in regular trading, trading at $261.43/share, with turnover of $571 million. The decline came as weak sentiment from the memory stock selloff continued to spill over into semiconductor equipment names, compounded by heightened fund positioning ahead of the company's quarterly earnings release scheduled for after market close.

On the news front, memory stocks suffered a broad rout, with Micron Technology down 5.82%, SK Hynix down 6.83%, and SanDisk falling over 11%, dragging the broader semiconductor equipment sector lower. Peers KLA-Tencor fell 6.75% and Applied Materials declined 4.74%. The stock had already retreated significantly from approximately $306 on July 27 to current levels, reflecting sustained selling pressure.

The company is expected to report EPS of $1.69, up from $1.47 in the prior quarter. Multiple investment banks recently raised their price targets, with UBS at $435, Stifel at $425, Mizuho at $400, and Evercore ISI at $355, implying substantial upside from the current price. However, pre-earnings uncertainty and the memory downturn continued to exert dual pressure on shares.

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