Lam Research’s Q1 FY2027 China revenue share (quarter ending September 30) shows closely matched trader sentiment around the 26% level because the prior June quarter printed exactly 26%, down from 34% sequentially as domestic Chinese customer spending moderated while global multinationals in the region held up. U.S. export restrictions continue to constrain shipments to certain domestic entities, prompting management to guide China wafer fab equipment spending flat to slightly up year-over-year even as Taiwan and Korea benefit from stronger AI-driven DRAM, HBM, and advanced packaging demand that lifts their revenue shares. With earnings scheduled for October 21, the market-implied odds reflect expectations that China’s percentage will remain near recent levels rather than rebound sharply or drop further amid these offsetting regional dynamics.