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Lam forecasts revenue below estimate as chip industry faces weak demand

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- Chip-making tools supplier Lam Research forecast second-quarter revenue slightly below Wall Street estimates on Wednesday, as demand from chipmakers remained under pressure due to sluggish consumer spending on electronics.

Lam expects current-quarter revenue of $3.7 billion plus or minus $300 million, compared with analysts' estimate of $3.65 billion, according to LSEG data.

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