Lam Research Corp.
(NASDAQ:LRCX) stock rose about 1% on Friday as semiconductor equipment stocks advanced alongside a broader rally in technology shares.
The technology sector gained 1.20%, while advancing stocks outpaced decliners by roughly 2.7-to-1.
The Nasdaq climbed 1.12% and the S&P 500 added 0.63%.
The stock also continued to draw support from its fiscal fourth-quarter results, released on July 29, which topped Wall Street expectations and included stronger-than-expected first-quarter guidance driven by demand for artificial intelligence-related chipmaking equipment.
