Lam Research Faces China's Export Ban, Shares Drop on $108 Oil Surge
A US House draft bill would ban Lam Research’s semiconductor equipment exports and maintenance services in China, aligning its curbs with existing restrictions on US and allied peers. Lam Research shares fell at the Nasdaq open after WTI crude surged 8.6% to nearly $108 on Middle East tensions.
1. Proposed MATCH Act Restrictions
The draft Multilateral Alignment of Technology Controls on Hardware Act would prohibit Lam Research from exporting semiconductor manufacturing tools to China and bar its engineers from repairing or servicing those tools in-country. The measure seeks to align US export controls with those of the Netherlands and Japan, extending restrictions on deep ultraviolet and extreme ultraviolet lithography equipment to foreign firms as well as US companies.
2. Shares Fall on Oil Rally and Geopolitical Risks
On April 2, Lam Research shares led a chip sector sell-off at the Nasdaq open after WTI crude oil jumped 8.6% to nearly $108 per barrel following US warnings of potential strikes on Iran. The spike in energy prices and heightened Middle East tensions stoked concerns over supply chains and tech demand, driving broader semiconductor stock declines.