Lam Research Corporation

Shortcut’s reasoning.

The model forecasts revenue of $8,249.3305776 million from end-market systems and customer-support builds. Applying the assumed 52.4% non-GAAP gross margin gives gross profit of $4,322.649 million.

Subtracting $1,010 million of operating expense and $2.131 million of net other expense gives non-GAAP pre-tax income of $3,310.518 million. The assumed 15% tax rate gives non-GAAP net income of $2,813.940 million.

Dividing by the guided 1,255 million diluted shares gives non-GAAP diluted EPS of 2.2421836567832996, versus the frozen Street estimate of $2.18. The complete public export preserves all 81 cells in the scored EPS dependency chain.

Historical end-market revenue is reconstructed from rounded mix percentages and then grown by the model assumptions. That rounding can affect forecast EPS. The separate 84.9% beat probability is a heuristic and does not multiply the EPS forecast.