LRCX · PEAD ↓ 74

Lam Research reported Q1 FY2027 EPS of $2.20 on 2026-10-21, beating the $2.17 consensus by $0.03 (+1.4%).

Print-day reaction was -1.0% versus the prior close — a muted, modestly negative response despite the earnings beat. The overnight gap was severe, however: LRCX opened the following morning down a further -10.1%, signalling aggressive post-close selling once the broader market digested guidance or commentary. Over days 1–3 (T+1 close to T+3 close) the stock drifted +3.2%, a partial but incomplete recovery that did not erase the gap damage. Cumulative abnormal return of -9.4% versus SPY.US firmly places this in PEAD short territory; the documented drift pattern is held through 2027-01-18.