LRCX · PEAD ↑ 70

Lam Research reported Q4 FY2026 EPS of $1.82 on 2026-07-29, beating the $1.69 consensus by $0.13 (+7.7%).

Print-day reaction was -6.4% versus the prior close, as the after-market beat failed to offset broader selling pressure on the session. The overnight gap to the T+1 open then surged +26.1%, a sharp reversal that suggested the market had materially re-priced the earnings result after digesting guidance. Day 1-to-3 drift was -1.0%, a modest give-back off the gap-open high but well short of erasing the overnight move. Cumulative abnormal return of +7.0% versus SPY.US places this firmly in PEAD long territory; the documented drift pattern holds through 2026-10-26.