On June 26, Lam Research fell 4.59% in regular trading, trading at $377.01/share, with turnover of $230 million. The decline extended weakness that began in overnight and pre-market sessions.

On the news front, investor concerns over memory chip demand sustainability intensified after widespread price increases across Apple and Xbox products raised questions about whether chip demand could remain robust. Additionally, reports that OpenAI's IPO may be delayed further dampened risk appetite across the technology sector. Memory chip names including Micron fell 4.1%, SanDisk dropped 4.7%, and Western Digital declined 3.5%, weighing heavily on upstream equipment suppliers.

Within the Semiconductor Equipment sector, the overall sector declined broadly. Among individual stocks, Applied Materials down 5.23%, ASML Holding down 3.55%, KLA-Tencor down 4.18%, Nova Ltd down 6.41%, and Teradyne down 6.44%. The sector-wide weakness came just one day after a strong rebound fueled by multiple investment bank target price upgrades, with Bank of America raising Lam Research's target to $480 and Wells Fargo and Citi both raising to $450.

(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.)