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Lam Research (LRCX +5.4%) pops following its FQ4 report. While results beat estimates, FQ1...

Lam Research (LRCX +5.4%) pops following its FQ4 report. While results beat estimates, FQ1 guidance for revenue of $820M-$880M and EPS of $0.38-$0.52 is largely below a consensus of $927M and $0.49. But the Street has already priced in a very dour near-term outlook for chip equipment demand. During its earnings call, Lam said it has lowered its 2012 forecast for global chip equipment spending to $28B-$29B - that's below the $31.4B (-13% Y/Y) recently forecast by Gartner.
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