On July 2, Lam Research fell 3.99% in regular trading, trading at $375.502/share, with turnover of $908 million, fully erasing earlier pre-market gains and extending the prior session's 8.18% plunge.

The continued selloff was driven by the global semiconductor sector rout triggered by Meta's announcement of its MetaCompute cloud business division, which plans to sell excess AI computing power externally. This development broke the prevailing computing power scarcity narrative and sparked panic over potential AI hardware demand oversaturation and peak capital expenditure. The Philadelphia Semiconductor Index plunged over 6% in the prior session, with Lam Research among the hardest hit.

The contagion spread globally on July 2, with Korean markets triggering circuit breakers as Samsung Electronics and SK Hynix both fell over 8%. Within the Semiconductor Equipment sector, Applied Materials dropped 3.84%, KLA-Tencor fell 5.18%, Teradyne declined 2.93%, ASML slipped 0.48%, and Acm Research lost 6.87%, reflecting broad-based sector pressure despite multiple investment banks maintaining elevated target prices for Lam Research.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)