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FREMONT, Calif. , Dec. 2, 2024 /PRNewswire/ -- Lam Research Corp. (Nasdaq: LRCX). Today, the U.S. government announced additional measures to further restrict semiconductor technology exports to China . Our initial assessment is that the effect of the announced measures on Lam's business will be broadly consistent with our prior expectations. As a result, at this time we have no plans to update Lam's financial guidance for the December 2024 quarter as stated in our earnings press release on October 23, 2024 . About Lam Research Lam Research Corporation is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. Lam's equipment and services allow customers to build smaller and better performing devices. In fact, today, nearly every advanced chip is built with Lam technology. We combine superior systems engineering, technology leadership, and a strong values-based culture, with an unwavering commitment to our customers. Lam Research (Nasdaq: LRCX) is a FORTUNE 500® company headquartered in Fremont, Calif. , with operations around the globe. Learn more at www.lamresearch.com . (LRCX) Caution Regarding Forward-Looking Statements: Statements made in this press release that are not of historical fact are forward-looking statements and are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to but are not limited to the effect of U.S. government restrictions on semiconductor technology exports to China , the effect of such measures on Lam's business, and our outlook and guidance for future financial results. Some factors that may affect these forward-looking statements include: trade regulations, export controls, trade disputes, and other geopolitical tensions may inhibit our ability to sell our products; our understanding of newly announced trade restrictions and their impact on our business may change over time; business, political and/or regulatory conditions in the consumer electronics industry, the semiconductor industry and the overall economy may deteriorate or change; the actions of our customers and competitors may be inconsistent with our expectations; supply chain cost increases and other inflationary pressures have impacted and may continue to impact our profitability; supply chain disruptions or manufacturing capacity constraints may limit our ability to manufacture and sell our products; and natural and human-caused disasters, disease outbreaks, war, terrorism, political or governmental unrest or instability, or other events beyond our control may impact our operations and revenue in affected areas; as well as the other risks and uncertainties that are described in the documents filed or furnished by us with the Securities and Exchange Commission, including specifically the Risk Factors described in our annual report on Form 10-K for the fiscal year ended June 30, 2024 and quarterly report on Form 10-Q for the quarter ended September 29, 2024 . These uncertainties and changes could materially affect the forward-looking statements and cause actual results to vary from expectations in a material way. The Company undertakes no obligation to update the information or statements made in this press release. Company Contacts: Ram Ganesh Investor Relations (510) 572-1615 Email: investor.relations@lamresearch.com Source: Lam Research Corporation### View original content to download multimedia: https://www.prnewswire.com/news-releases/lam-research-corporation-comments-on-newly-announced-export-regulations-302320046.html SOURCE Lam Research Corporation Best trending stories from the week. Success! An email has been sent to with a link to confirm list signup. Error! There was an error processing your request. You may occasionally receive promotions exclusive discounted subscription offers from the Roswell Daily Record. Feel free to cancel any time via the unsubscribe link in the newsletter you received. You can also control your newsletter options via your user dashboard by signing in.Stock market today: Rising tech stocks pull Wall Street to another record
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Only the coldest of hearts won't empathize with Michael Andretti, who has been sidelined from his namesake motorsports organization and won't have any role with the the Formula 1 program he spent the last four years desperately trying to launch. His effort to get a program partnered with General Motors into F1 was approved last week, roughly a month after Andretti stepped aside from leading his race teams. F1's decision to expand its grid for Cadillac F1 came amidst a federal antitrust investigation into why Liberty Media refused to admit Andretti Global as an 11th team — and after Andretti partners Dan Towriss and Mark Walter took controlling interest of the effort. “The Cadillac F1 Team is made up of a strong group of people that have worked tirelessly to build an American works team,” Andretti posted on social media. “I’m very proud of the hard work they have put in and congratulate all involved on this momentous next step. I will be cheering for you!” While he will have no role with the F1 team, it is unclear what his regular involvement will be with his IndyCar team. His famous father, 1978 F1 champion Mario Andretti, will be on the board of the F1 team and an ambassador. What changed F1's position on Andretti — an application it basically mocked in its January denial — is not known. Few have said much beyond noting GM's increased commitment to take a larger role beyond engine supplier. Mohammed Ben Sulayem, the president of F1's governing body, had championed the GM bid from the start and Andretti's application was the only one of seven to receive approval from the FIA. In an interview with The Associated Press, he called F1's decision to finally allow the GM team a spot in the sport “a win for all of motorsports” but also sympathized with Michael Andretti. “I feel he should be proud because he's the founder who started this thing with his partners,” Ben Sulayem said. "We did the proper due process, we never favored anyone, and it is only because his application ticked all the boxes that the FIA approved it. Michael is a lovely person and I do not feel this was personal against Michael Andretti. “The other teams? For them, it was about the money. They don't want the money to go from split between 10 teams to split between 11 teams," he added. "But it was only a matter of time before General Motors was going to be approved and I feel it is incorrect to say it happened because Michael stepped aside. What did Michael do? Why would people not want him? Because he spoke publicly? He didn't break any rules. He didn't abuse anyone. If people want to see it as personal, it is up to them. He doesn't annoy me." What likely did annoy F1 and Liberty Media, its commercial rights holder, was the Justice Department investigation. Liberty announced it was under investigation this summer, not long after Mario Andretti visited Washington to discuss the F1 snub with lawmakers. The FBI was allegedly at last month's Las Vegas Grand Prix and Ben Sulayem confirmed to AP he was interviewed by federal investigators. “It is the department that protects the interest of the United States and the FIA has nothing to hide,” Ben Sulayem said. “I was proud to speak to them and they were very polite and understanding. I wanted this to be cleared: I wanted GM in F1 because it is good for business.” F1 currently has just one American team, owned by California businessman Gene Haas, despite a series-high three races in the United States. Should the Cadillac F1 team make it to the grid in 2026 as scheduled, there will be two American teams and Ford will officially join Red Bull that season as a technical partner. This Andretti-less F1 effort will be led by TWG Global, the investment company founded by Walter, who as CEO of Guggenheim Partners is the controlling owner of the Los Angeles Dodgers and Premier League club Chelsea, and Towriss, who became involved in motorsports initially as a sponsor for Andretti and took an ownership role in Andretti Global in 2022. Towriss is now the majority owner of the Andretti race teams and work on the F1 team will continue in Andretti's Indiana shop, its recently opened satellite factory in Silverstone and GM’s facilities in North Carolina and Michigan. Towriss is the CEO of TWG Global’s motorsports arm. There is no indication who the drivers will be for the F1 team, although Valtteri Bottas indicated last weekend he'd like to be considered and the original Andretti effort targeted current IndyCar driver Colton Herta, who is sponsored by Towriss' company, Gainbridge. Get local news delivered to your inbox!
HUMBOLDT, Tenn. (AP) — A Tennessee man was convicted Thursday of killing two men and wounding a third in a shooting at a high school basketball game three years ago. Jadon Hardiman, 21, was found guilty in Gibson County of charges including second-degree murder, attempted murder, aggravated assault and weapons offenses, district attorney Frederick Agee said in a statement. He faces up to 76 years in prison at sentencing in April. Hardiman, of Jackson, attended a basketball game between Humboldt and North Side high schools on Nov. 30, 2021. Then 18, Hardiman entered the Humboldt gymnasium's crowded concession area and pulled a semi-automatic .40 caliber handgun, prosecutors said. He fired three shots at Justin Pankey, a 21-year-old former Humboldt basketball player. Pankey was hit one time and died within seconds, Agee said. A second bullet hit Xavier Clifton, a former North Side student and basketball player, who was standing in the concession line. Clifton was shot in the neck and paralyzed. He died in March 2022. Story continues below video A third shot struck another man in the back of the head. He survived. “Many people were placed in fear of imminent bodily injury by Hardiman’s shooting, as shown by video footage of their fleeing into the gym, into bathrooms, and other areas of the school,” Agee said. Hardiman ran away and drove to Jackson, disposing of the murder weapon along the way, the district attorney said. The U.S. Marshals Service contacted his family, and he was arrested the next day. Agee said the shooting "frightened every adult, student, and child present, who were only there to support their team and enjoy a good game.” Hardiman's lawyer did not immediately return a call seeking comment.Steep price hikes could be on the way if President-elect Donald Trump follows through on his pledge to impose sweeping new tariffs on imports from Mexico, Canada and China. He threatened to implement the tariffs on the country’s top three trading partners on his first day back in office, including a 10% tariff on products from China. In a pair of social media posts, he explained the decision as a way to crack down on illegal immigration and drugs. “On January 20th, as one of my many first Executive Orders, I will sign all necessary documents to charge Mexico and Canada a 25% Tariff on ALL products coming into the United States,” he said. “It is time for them to pay a very big price!” Ultimately, consumers could end up absorbing the brunt of those costs. When tariffs are levied on imports, American companies have to pay taxes to the U.S. government on their purchases from other countries; the companies often pass on those extra costs to customers. “This is a bully effort to put everybody on notice,” said economist Chris Thornberg, founding partner of Beacon Economics in Los Angeles. “One of the reasons he uses tariffs is because it’s one of the few places that he actually has some leverage.” Though Thornberg noted it’s still a “giant remains-to-be seen” whether and how Trump’s proposed tariffs are implemented, consumer goods across the board could be dramatically affected. Here are a few top categories: Mexico was the U.S.’s top goods trading partner last year, surpassing China. Mexico is a major manufacturer of passenger vehicles, light vehicles, trucks, auto parts, supplies and electric-vehicle technologies. Eighty-eight percent of vehicles produced there are exported, with 76% headed for the U.S., the International Trade Administration says. Automakers with manufacturing operations in Mexico include General Motors, Ford, Tesla, Audi, BMW, Honda, Kia, Mercedes Benz, Nissan, Toyota and Volkswagen. “If we get tariffs, we will pass those tariff costs back to the consumer,” Phil Daniele, chief executive of AutoZone, said in the company’s most recent earnings call. “We’ll generally raise prices ahead of ... what the tariffs will be.” Last year, China accounted for 77% of toy imports — about 25 times greater than the total value of toy imports from Mexico, the next largest foreign source of supply, according to the National Retail Federation. U.S. producers account for less than 1% of the toy market. The federation recently released a study that found the tariffs Trump proposed during his campaign — a universal 10% to 20% tariff on imports from all foreign countries and an additional 60% to 100% tariff on imports specifically from China — would apply to a wide range of toys imported into the U.S., including dolls, games and tricycles. “Prices of toys would increase by 36% to 56%,” the study concluded. The National Retail Federation study also analyzed more than 500 items of clothing and found prices “would rise significantly” — as much as 20.6%. That would force consumers to pare spending on apparel. Low-income households would be hit especially hard, the group said, because they spend three times as much of their after-tax income on apparel compared with high-income households. “U.S. apparel manufacturers would benefit from the tariffs, but at a high cost to families,” the study said. “Even after accounting for domestic manufacturing gains and new tariff revenue, the result is a net $16 billion to $18 billion loss for the U.S. economy, with the burden carried by U.S. consumers.” Imported footwear products already face high U.S. duties, particularly those made in China. The Footwear Distributors and Retailers of America expressed concern that new tariffs would make it more difficult for consumers to afford shoes and other everyday essentials. Trump’s proposed tariffs would increase the costs of several imported fruits and vegetables, said Jerry Nickelsburg, faculty director of UCLA Anderson Forecast, an economic forecasting organization. The vast majority of U.S. produce imports come from Mexico and Canada, including avocados, cucumbers, potatoes and mushrooms. The U.S. spent $88 billion on agricultural imports from the two countries in fiscal year 2024. Big-ticket electronic products such as televisions, laptops, smartphones, dishwashers and washing machines — many of which are manufactured in Mexico and China, or made with parts imported from those countries — likely would become more expensive. The U.S. imported $76 billion worth of computers and other electronics from Mexico in 2023, and more than a quarter of U.S. imports from China consist of electronic equipment. Get local news delivered to your inbox!
Suspect in the killing of UnitedHealthcare’s CEO struggles, shouts while entering courthouse ALTOONA, Pa. (AP) — The suspect in the killing of UnitedHealthcare’s CEO struggled with deputies and shouted while arriving for a court appearance in Pennsylvania a day after he was arrested at a McDonald’s and charged with murder. Luigi Nicholas Mangione emerged from a patrol car, spun toward reporters and shouted something partly unintelligible while deputies pushed him inside Tuesday. At the brief hearing, the defense lawyer informed the court that Mangione would not waive extradition to New York but instead wants a hearing on the issue. Mangione was denied bail. Brian Thompson, who led the United States’ largest medical insurance company, was killed last Wednesday as he walked alone to a Manhattan hotel for an investor conference. From wealth and success to murder suspect, the life of Luigi Mangione took a hard turn Luigi Nicholas Mangione was apparently living a charmed one: the grandson of a wealthy real estate developer, valedictorian of his elite Baltimore prep school and with degrees from one of the nation’s top private universities. Friends at an exclusive co-living space at the edge of touristy Waikiki in Hawaii where the 26-year-od Mangione once lived widely considered him a “great guy.” Pictures on his social media accounts show a fit, smiling, handsome young man on beaches and at parties. Now, investigators are working to piece together why Mangione diverged from a path of seeming success to make the violent and radical decision to gun down UnitedHealthcare CEO Brian Thompson in a brazen attack on a Manhattan street. Key details about the man accused of killing of UnitedHealthcare's CEO The 26-year-old man charged in last week’s killing of UnitedHealthcare’s CEO in New York City has appeared in a Pennsylvania courtroom. Luigi Nicholas Mangione was arrested Monday after a worker at a McDonald's in Altoona, Pennsylvania, notified police that he resembled the suspect in last Wednesday's killing of Brian Thompson. While being led into court to be arraigned Tuesday, Mangione shouted something that was partly unintelligible but referred to an “insult to the intelligence of the American people.” During the hearing in Hollidaysburg, Mangione was denied bail and his attorney said Mangione would not waive extradition. DA suggests unusual idea for halting Trump’s hush money case while upholding his conviction NEW YORK (AP) — Prosecutors are trying to preserve President-elect Donald Trump’s hush money conviction as he returns to office, and they're suggesting various ways forward. One novel notion is based on how some courts handle criminal cases when defendants die. In court papers made public on Tuesday, the Manhattan district attorney’s office proposed an array of options for keeping the historic conviction on the books. The proposals included freezing the case until he’s out of office, or agreeing that any future sentence wouldn’t include jail time. Another idea: closing the case with a notation that acknowledges his conviction but says that he was never sentenced and that his appeal wasn’t resolved because of presidential immunity. There's no immediate response from Trump's lawyers. Middle East latest: Israel bombs hundreds of sites across Syria as army pushes into border zone Israel says it bombed more than 350 military sites in Syria during the previous 48 hours, targeting “most of the strategic weapons stockpiles” in the country. Israeli Prime Minister Benjamin Netanyahu said the wave of strikes was necessary to keep the weapons from being used against Israel following the Syrian government’s stunning collapse. Israel also acknowledged its troops were pushing into a border buffer zone inside Syria, which was established after the 1973 Mideast war. However, Israel denied its forces were advancing Tuesday toward the Syrian capital of Damascus. Life in the capital was slowly returning to normal. People celebrated for a third day in a main square, and shops and banks reopened. Donald Trump is returning to the world stage. So is his trolling NEW YORK (AP) — President-elect Donald Trump’s recent dinner with Canadian Prime Minister Justin Trudeau and his visit to Paris for the reopening of the Notre Dame Cathedral were not just exercises in policy and diplomacy. For Trump, they were also prime trolling opportunities. Throughout his first term in the White House and his recent campaign to return there, the Republican has dished out provocative, antagonizing and mocking statements. Now that’s he’s preparing to return to the Oval Office, Trump is back at it, and his trolling is attracting more attention — and eyerolls. Report on attempts to kill Trump urges Secret Service to limit protection of foreign leaders WASHINGTON (AP) — A congressional task force looking into the assassination attempts against Donald Trump during his presidential campaign is recommending changes to the Secret Service. These include protecting fewer foreign leaders during the height of the election season and considering moving the agency out of the Department of Homeland Security. The 180-page report was released Tuesday. It constitutes one of the most detailed looks so far into the July 13 assassination attempt against Trump during a campaign rally in Pennsylvania and a second one in Florida two months later. South Korea's ex-defense minister is formally arrested over brief imposition of martial law SEOUL, South Korea (AP) — South Korea's previous defense minister has been formally arrested over his alleged collusion with President Yoon Suk Yeol and others in imposing martial law last week. Kim Yong Hyun resigned last week and has been detained since Sunday. He is the first person arrested in the case. Prosecutors have up to 20 days to determine whether to indict him. A conviction on the charge of playing a key role in rebellion carries the maximum death sentence. Kim is accused of recommending martial law to Yoon and sending troops to the National Assembly to block lawmakers from voting on it. Homes burn as wind-driven wildfire prompts evacuations in Malibu, California MALIBU, Calif. (AP) — Thousands of Southern California residents are under evacuation orders and warnings as firefighters battle a wind-driven wildfire in Malibu. The flames burned near seaside mansions and Pepperdine University, where students sheltering at the school’s library on Monday night watched as the blaze intensified. Officials on Tuesday said a “minimal number” of homes burned, but the exact amount wasn’t immediately known. More than 8,100 homes and other structures are under threat, including more than 2,000 where residents have been ordered to evacuate. Pepperdine University on Tuesday morning said the worst of the fire has pushed past campus. It was not immediately known how the blaze started. More beans and less red meat: Nutritionists weigh in on US dietary guidelines Americans should eat more beans, peas and lentils and cut back on red and processed meats and starchy vegetables. That's advice from a panel of expert nutritionists charged with counseling the U.S. government about the next edition of the dietary guidelines. The panel did not weigh in on the growing role of ultraprocessed foods that have been linked to health problems or alcohol use. But they did say people should continue to limit added sugars, sodium and saturated fat in pursuit of a healthy diet. Tuesday’s recommendations now go to federal officials, who will draft the final guidance set for release next year.
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