Lam Research reports Q1 revenue down 31% YoY to $3.48B, vs. $3.42B est., the third straight quarter of decline, as the chipmaking tools market remains "soft" (Nick Turner/Bloomberg)

Nick Turner / Bloomberg:
Lam Research reports Q1 revenue down 31% YoY to $3.48B, vs. $3.42B est., the third straight quarter of decline, as the chipmaking tools market remains “soft”  —  Lam Research Corp. fell as much as 3.8% in late trading after revenue fell for a third straight quarter, a sign demand for chipmaking equipment remains sluggish.