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Applied Materials sells semiconductor manufacturing tools for deposition, etch, clean, process control and advanced packaging, which are bought by the same memory, foundry and logic chipmakers that buy Lam Research tools. Both companies are fighting for the same factory equipment budgets when chipmakers expand or upgrade their fabs.
As of Jun 23, 2026
For informational purposes only.
Today’s move in Lam was a gut‑check kind of day, not a company‑blows‑up kind of day. The stock dropped about 9% on heavier‑than‑usual trading, in the middle of a sharp selloff in chip and AI‑related stocks. That’s a big swing, but it comes after an enormous run: the shares are still up strongly over the last month, quarter, and year.
Lam closed around $371, down almost 10% from yesterday, with trading volume above its recent average. In plain terms: a lot of shares changed hands, and there were more eager sellers than buyers at recent prices.
This wasn’t happening in a vacuum. Technology overall had a rough day, and semiconductor stocks were at the center of it. Reports pointed to:
So Lam’s drop looks more like part of a sector shakeout than a Lam‑only disaster.
Even after today, the price is still well above its 50‑day and 200‑day averages (think of those as smoothed trend lines). That tells you the bigger trend has been up, but today’s move shows the ride is getting bumpier and momentum is cooling.
Two big forces are colliding:
