Lam Research (LRCX) Stock Faces Q1 Earnings Quality Questions After Records

Lam Research just posted its Q1 2027 scorecard with record revenue of US$8.22b and non GAAP earnings per share of US$2.20, yet the stock barely flinched. The share price slipped a fraction to around US$230, essentially flat on the day after a tough few weeks where the stock has fallen about 25% over three months. Markets seemed numb to a quarter that reset both top line and margin records, treating it as already priced in. The real story is how that strength aligns with a richer multiple and...