Lam Research (LRCX) risk factors: FY2026 10-K

1. We Depend on Creating New Products and Processes and Enhancing Existing Products and Processes for Our Success; Consequently, We Are Subject to Risks Associated with Rapid Technological Change
2. We Face a Challenging and Complex Competitive Environment
3. Once a Semiconductor Manufacturer Commits to Purchase a Competitor’s Semiconductor Manufacturing Equipment, the Manufacturer Typically Continues to Purchase That Competitor’s Equipment, Making It More Difficult for Us to Sell Our Equipment to That Customer
4. The Semiconductor Capital Equipment Industry Is Subject to Variability and Periods of Rapid Growth or Decline; We Therefore Face Risks Related to Our Strategic Resource Allocation Decisions
5. Future Declines in the Semiconductor Industry, and the Overall World Economic Conditions on Which It Is Significantly Dependent, Could Have a Material Adverse Impact on Our Results of Operations and Financial Condition
6. We Have a Limited Number of Key Customers
7. Strategic Alliances and Customer Consolidation May Have Negative Effects on Our Business

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1. Our Revenues and Results of Operations Are Variablereworded
2. Our Business Relies on Technology, Data, Intellectual Property and Other Sensitive Information That is Susceptible to Cybersecurity and Other Threats or IncidentsCybersecurity
3. We Use Artificial Intelligence in Our Business, and Challenges with Properly Managing Its Use Could Result in Reputational Harm, Competitive Harm, and Legal Liability, and Materially and Adversely Affect Our Results of Operations.newAI
4. Our Future Success Depends Heavily on International Sales and the Management of Global Operations
5. Disruptions to Our Supply Chain and Outsource Providers Could Impact Our Ability to Meet Demand, Increase Our Costs, and Adversely Impact Our Revenue and Results of Operationsreworded
6. We May Not Achieve the Expected Benefits of Our Restructuring Plans and Business Transformation Initiatives, and These Efforts Could Have a Material Adverse Effect on Our Business, Operations, Financial Condition, Results of Operations and Competitive Position
7. We Face Risks Related to the Disruption of Our Primary Manufacturing and R&D Facilities
8. We Are Subject to Risks Relating to Product Concentration and Lack of Product Revenue Diversification
9. We May Fail to Protect Our Critical Proprietary Technology Rights, Which Could Affect Our Business
10. Our Ability to Attract, Retain, and Motivate Key Employees Is Critical to Our Success
11. If We Choose to Acquire or Dispose of Businesses, Product Lines, and Technologies, We May Encounter Unforeseen Costs and Difficulties That Could Impair Our Financial Performance

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1. Increasing and Evolving Environmental Regulations May Adversely Affect Our Results of Operationsreworded
2. Our Sales to Customers in China, a Significant Region for Us, Have Been Impacted, and are Likely to Be Materially and Adversely Affected by Export License Requirements and Other Regulatory Changes, or Other Governmental Actions in the Course of the Trade Relationship Between the U.S. and ChinaChina
3. Intellectual Property, Indemnity, Misuse of Third-Party Information, and Other Claims Against Us Can Be Costly and We Could Lose Significant Rights That Are Necessary to Our Continued Business and Profitabilityreworded
4. We Are Exposed to Various Risks from Our Regulatory Environment
5. Our Financial Results May Be Adversely Impacted by Higher than Expected Tax Rates or Exposure to Additional Tax Liabilities
6. Our Bylaws Designate the Court of Chancery of the State of Delaware as the Sole and Exclusive Judicial Forum for Certain Legal Actions Between the Company and its Stockholders, Which May Discourage Lawsuits with Respect to Such Claims

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1. The Market for Our Common Stock Is Volatile, Which May Affect Our Ability to Raise Capital or Make Acquisitions or May Subject Our Business to Additional Costs
2. We May Incur Impairments to Goodwill or Long-lived Assets
3. Our Leverage and Debt Service Obligations May Adversely Affect Our Financial Condition and Results of Operationsreworded
4. Our Credit Agreements Contain Covenant Restrictions That May Limit Our Ability to Operate Our Business
5. There Can Be No Assurance That We Will Continue to Declare Cash Dividends or Repurchase Our Shares at All or in Any Particular Amounts
6. If One or More of Our Counterparty Financial Institutions Default on Their Obligations To Us or Fail, We May Incur Significant Losses

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Headings in the FY2025 10-K with no match this year.

1. Epidemics, Pandemics or Outbreaks of Diseases May Adversely Impact Our Business, Operations, and Financial Results