LRCX's quarter looked decent — EPS $2.20 beat by a penny, revenue up 54% to $8.22 billion, systems revenue up 62%, gross margin widened to 52.4% — and guidance is roughly in line; nothing in the numbers justifies the ~6% drop, which may reflect supply-chain and price-increase commentary.

Right now, I want to jump to Lamb Research because they're down about 5.5%. Lamb reporting their first quarter EPS of $2.20. They did have an issue when they first reported that coming across the wire.

That was an incorrect number, but it's 220. It beat the estimates by a penny.

Their revenue rose 54% year-over-year to 8.22 billion. That also topped the estimates looking for 8.13. Systems revenue is at 5.73 billion. That's up 62% year-over-year. also topped the $5.6 billion estimate.

Customer support related revenue at 2.49 billion. That's 40% higher year-over-year. It missed the estimate looking for 2.6.

Their margins, gross adjusted margins, expanded to 52.4 from 50.6 a year ago, slightly above the estimate, looking for a little bit better than 52%. Adjusted operating margins coming in at 40.2%.

Uh, and their net income in their fiscal first quarter was 2.75 billion.

As far as their guidance going forward, their revenue for this current quarter 8.2 to9 billion. The abstract was looking for 8.6. So that's uh right there at the midpoint here.

They're seeing their adjusted gross margin for the quarter 51.5 to 53 and a half. The street was looking for 51.9.

Uh and their uh adjusted operating margins at 39.5 to 41 a.5. Estimate was looking for 39.7. So those are pretty much in line.

Uh KG, as we look across these numbers, uh 6% move to the downside, pretty significant here. Uh what's what's the drag? >> Uh that's a good question. I'm not sure because this actually looks like a pretty decent report.

I mean, outside of the revenue mix, that looks a little bit adjusted when you're looking at China sales. Looks like that's around 35% of total revenue at this point. That's actually been improving over the last couple of quarters here.

And you have Korea sales sitting at around 20% of total revenue.

But I'm not seeing anything within the numbers that would suggest a pullback in the uh in the shares. Maybe it's a part of the commentary. Maybe there's a mention of around u you know supply chain issues and potentially price increases.

But I'm not seeing anything from the headline standpoint that would result in a pullback uh in the shares like we are seeing right now.

Lam Research is down 5.8%.