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Friday, January 25, 2008

Lam Research Q3:2008 Results

Guidance for next quarter's orders was slightly better than consensus, which I guess was a lot better than the fear, but they guided to a flat/down 1st half outlook versus prior touchy-feely guidance of a flat first half 2008.

DRAM pricing stinks. The mp3 player market is in seasonal weakness, which hurts NAND units. They're going to see customers pull back on memory spending worse than they're saying. Stock is up a couple pre-market. I'd make short sales.

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