Lam Research to take $2-2.5bn China hit

Author: EIS Release Date: Oct 27, 2022

Lam Research expects to take a $2-2.5 billion revenue hit following the US restrictions on exporting equipment and support services to China.

 

“We have taken the necessary steps to ensure full compliance with the rules and have ceased shipments and support as required,” says CEO Timothy Archer.

 

Lam gets 30% of its revenue from China. It forecasts revenue between $4.8 billion and $5.4 billion for the current quarter.

 

“Solid execution combined with easing supply chain conditions produced strong overall performance,” said Archer “while we expect weaker wafer fabrication equipment spending in 2023, our technology leadership and demonstrated track record of managing through downturns provide us a strong foundation to capture the exciting opportunities ahead.”