Lam Research Tumbles as Softer Jobs Data and Sector Profit-Taking Hit Shares
Lam Research shares plunged about 7% in morning trading, sliding from an open near $390 to trade around $364 as weaker-than-expected ADP private payrolls data, Fed-related policy uncertainty and ongoing sector profit-taking pressured the wafer fabrication equipment maker. Company-specific vulnerabilities including a stretched valuation after a 154%…