Lam Research (LRCX) 10-Q28 Oct 242025 Q1 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares shares in Thousands	3 Months Ended
Cover Page - shares shares in Thousands	Sep. 29, 2024	Oct. 24, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 29, 2024
Document Transition Report	false
Entity File Number	0-12933
Entity Registrant Name	LAM RESEARCH CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-2634797
Entity Address, Address Line One	4650 Cushing Parkway
Entity Address, City or Town	Fremont
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94538
City Area Code	510
Local Phone Number	572-0200
Title of 12(b) Security	Common Stock, Par Value $0.001 Per Share
Trading Symbol	LRCX
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		1,286,685
Amendment Flag	false
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q1
Entity Central Index Key	0000707549
Current Fiscal Year End Date	--06-29

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands	3 Months Ended
	Sep. 29, 2024	Sep. 24, 2023
Income Statement [Abstract]
Revenue	$ 4,167,976,000	$ 3,482,062,000
Cost of goods sold	2,165,293,000	1,819,420,000
Restructuring charges, net - cost of goods sold	0	7,940,000
Total cost of goods sold	2,165,293,000	1,827,360,000
Gross margin	2,002,683,000	1,654,702,000
Research and development	495,358,000	422,629,000
Selling, general, and administrative	243,128,000	207,023,000
Restructuring charges, net - operating expenses	0	2,021,000
Total operating expenses	738,486,000	631,673,000
Operating income	1,264,197,000	1,023,029,000
Other income (expense), net	30,081,000	2,601,000
Income before income taxes	1,294,278,000	1,025,630,000
Income tax expense	(177,834,000)	(138,232,000)
Net income	$ 1,116,444,000	$ 887,398,000
Net income per share:
Basic (in dollars per share)	$ 0.86	$ 0.67
Diluted (in dollars per share)	$ 0.86	$ 0.67
Number of shares used in per share calculations:
Basic (in shares)	1,299,236	1,325,840
Diluted (in shares)	1,304,066	1,331,664

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Sep. 29, 2024	Sep. 24, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 1,116,444	$ 887,398
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment	45,126	(20,678)
Cash flow hedges:
Net unrealized (losses) gains during the period	(2,436)	8,598
Net gains reclassified into net income	(104)	(8,917)
Net change	(2,540)	(319)
Available-for-sale investments:
Net unrealized gains during the period	0	182
Net gains reclassified into net income	0	(10)
Net change	0	172
Defined benefit plans, net change in unrealized component	39	181
Other comprehensive income (loss), net of tax	42,625	(20,644)
Comprehensive income	$ 1,159,069	$ 866,754

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 29, 2024	Jun. 30, 2024	[1]
ASSETS
Cash and cash equivalents	$ 6,067,471	$ 5,847,856
Accounts receivable, less allowance of $5,580 as of September 29, 2024, and $5,277 as of June 30, 2024	2,937,217	2,519,250
Inventories	4,209,878	4,217,924
Prepaid expenses and other current assets	277,802	298,190
Total current assets	13,492,368	12,883,220
Property and equipment, net	2,214,269	2,154,518
Goodwill and intangible assets	1,758,344	1,765,073
Other assets	2,067,508	1,941,917
Total assets	19,532,489	18,744,728
LIABILITIES AND STOCKHOLDERS’ EQUITY
Trade accounts payable	704,247	613,966
Accrued expenses and other current liabilities	2,196,424	1,801,877
Deferred profit	1,937,315	1,417,781
Current portion of long-term debt and finance lease obligations	504,682	504,814
Total current liabilities	5,342,668	4,338,438
Long-term debt and finance lease obligations, less current portion	4,479,087	4,478,520
Income taxes payable	664,717	813,304
Other long-term liabilities	574,126	575,012
Total liabilities	11,060,598	10,205,274
Commitments and contingencies (refer to Note 12)
Stockholders’ equity:
Preferred stock, at par value of $0.001 per share; authorized, 5,000 shares, none outstanding	0	0
Common stock, at par value of $0.001 per share; authorized, 4,000,000 shares as of September 29, 2024 and June 30, 2024; issued and outstanding, 1,291,958 shares as of September 29, 2024, and 1,303,769 shares as of June 30, 2024	1,292	1,304
Additional paid-in capital	8,303,014	8,223,046
Treasury stock, at cost; 1,660,250 shares as of September 29, 2024, and 1,648,239 shares as of June 30, 2024	(25,374,657)	(24,365,783)
Accumulated other comprehensive loss	(87,803)	(130,428)
Retained earnings	25,630,045	24,811,315
Total stockholders’ equity	8,471,891	8,539,454
Total liabilities and stockholders’ equity	$ 19,532,489	$ 18,744,728

[1] Derived from audited financial statements

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 29, 2024	Jun. 30, 2024
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 5,580	$ 5,277
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, authorized (in shares)	5,000,000	5,000,000
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized (in shares)	4,000,000,000	4,000,000,000
Common stock, issued (in shares)	1,291,958,000	1,303,769,000
Common stock, outstanding (in shares)	1,291,958,000	1,303,769,000
Treasury stock (in shares)	1,660,250,000	1,648,239,000

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands		3 Months Ended
		Sep. 29, 2024	Sep. 24, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income		$ 1,116,444	$ 887,398
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		94,295	90,479
Deferred income taxes		(108,722)	(24,238)
Equity-based compensation expense		80,011	67,211
Other, net		(457)	(150)
Changes in operating assets and liabilities		386,900	(69,537)
Net cash provided by operating activities		1,568,471	951,163
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures and intangible assets		(110,588)	(76,992)
Proceeds from maturities of available-for-sales securities		0	7,275
Other, net		37	(4,966)
Net cash used for investing activities		(110,551)	(74,683)
CASH FLOWS FROM FINANCING ACTIVITIES:
Principal payments on debt, including finance lease obligations		(934)	(253,109)
Treasury stock purchases		(997,035)	(843,238)
Dividends paid		(260,985)	(230,332)
Proceeds from issuance of common stock, net issuance costs		(43)	2,818
Other, net		(324)	(2,151)
Net cash used for financing activities		(1,259,321)	(1,326,012)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash		22,682	(11,031)
Net change in cash, cash equivalents, and restricted cash		221,281	(460,563)
Cash, cash equivalents, and restricted cash at beginning of period	[1]	5,850,803	5,587,372
Cash, cash equivalents, and restricted cash at end of period	[1]	6,072,084	5,126,809
Schedule of non-cash transactions:
Accrued payables for stock repurchases, including applicable excise tax		63,322	37,768
Accrued payables for capital expenditures		52,203	38,668
Dividends payable		297,634	265,040
Transfers of finished goods inventory to property and equipment		32,985	18,014
Reconciliation of cash, cash equivalents, and restricted cash
Cash and cash equivalents		6,067,471	5,126,150
Restricted cash and cash equivalents	[1]	4,613	659
Total cash, cash equivalents, and restricted cash	[1]	$ 6,072,084	$ 5,126,809

[1] Restricted cash is reported within Other assets in the Condensed Consolidated Balance Sheets

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) shares in Thousands, $ in Thousands	Total		Common Stock	Additional Paid-in Capital	Treasury Stock	Accumulated Other Comprehensive Loss	Retained Earnings
Beginning balance (in shares) at Jun. 25, 2023			1,332,966
Beginning balance at Jun. 25, 2023	$ 8,210,172		$ 1,333	$ 7,806,749	$ (21,529,300)	$ (100,706)	$ 22,032,096
Increase (Decrease) in Stockholders' Equity
Issuance of common stock (in shares)			414
Issuance of common stock	2,818			2,818
Purchase of treasury stock (in shares)			(12,659)
Purchase of treasury stock	(835,520)		$ (13)		(835,507)
Equity-based compensation expense	67,211			67,211
Net income	887,398						887,398
Other comprehensive (loss) income	(20,644)					(20,644)
Cash dividends declared	(264,105)						(264,105)
Ending balance (in shares) at Sep. 24, 2023			1,320,721
Ending balance at Sep. 24, 2023	$ 8,047,330		$ 1,320	7,876,778	(22,364,807)	(121,350)	22,655,389
Beginning balance (in shares) at Jun. 30, 2024	1,303,769		1,303,769
Beginning balance at Jun. 30, 2024	$ 8,539,454	[1]	$ 1,304	8,223,046	(24,365,783)	(130,428)	24,811,315
Increase (Decrease) in Stockholders' Equity
Issuance of common stock (in shares)			200
Issuance of common stock	(43)			(43)
Purchase of treasury stock (in shares)			(12,011)
Purchase of treasury stock	(1,008,886)		$ (12)		(1,008,874)
Equity-based compensation expense	80,011			80,011
Net income	1,116,444						1,116,444
Other comprehensive (loss) income	42,625					42,625
Cash dividends declared	$ (297,714)						(297,714)
Ending balance (in shares) at Sep. 29, 2024	1,291,958		1,291,958
Ending balance at Sep. 29, 2024	$ 8,471,891		$ 1,292	$ 8,303,014	$ (25,374,657)	$ (87,803)	$ 25,630,045

[1] Derived from audited financial statements

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Sep. 29, 2024	Sep. 24, 2023
Statement of Stockholders' Equity [Abstract]
Dividends declared per share (in dollars per share)	$ 0.23	$ 0.20

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
BASIS OF PRESENTATION	Sep. 29, 2024
Accounting Policies [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and the instructions to Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation have been included. The accompanying unaudited Condensed Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements of Lam Research Corporation (“Lam Research” or the “Company”) for the fiscal year ended June 30, 2024, which are included in the Company’s Annual Report on Form 10-K as of and for the year ended June 30, 2024 (the “2024 Form 10-K”). The condensed consolidated financial statements include the accounts of Lam Research and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The Company’s reporting period is a 52/53-week fiscal year. The Company’s current fiscal year will end June 29, 2025 and includes 52 weeks. The quarters ended September 29, 2024 (the “September 2024 quarter”) and September 24, 2023 included 13 weeks. Common Stock Split: On May 21, 2024, the Company announced a ten-for-one stock split which was effective October 2, 2024. All share and per share amounts throughout this Quarterly Report on Form 10-Q have been retroactively adjusted to reflect the stock split. The par value per share remains unchanged at $0.001 per share after the stock split.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	3 Months Ended
RECENT ACCOUNTING PRONOUNCEMENTS	Sep. 29, 2024
Accounting Changes and Error Corrections [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS Recently Adopted or Effective The Company has not adopted any new accounting standards during the three months ended September 29, 2024 that have a material impact on the Company’s Condensed Consolidated Financial Statements. Updates Not Yet Effective In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures,” which expands disclosures about a public entity’s reportable segments and requires more enhanced information about a reportable segment’s expenses, interim segment profit or loss, and how a public entity’s chief operating decision maker uses reported segment profit or loss information in assessing segment performance and allocating resources. The guidance is effective for financial statements issued for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is required to adopt this standard in the fiscal year 2025 for the annual reporting period ending June 29, 2025, with retrospective disclosure of prior periods presented. The Company is currently in the process of evaluating the impact of adoption on its Consolidated Financial Statements. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,” which requires public entities to disclose consistent categories and greater disaggregation of information in the rate reconciliation and for income taxes paid. It also includes certain other amendments to improve the effectiveness of income tax disclosures. The guidance is effective for financial statements issued for annual periods beginning after December 15, 2024, with early adoption permitted. The Company is required to adopt this standard prospectively in fiscal year 2026 for the annual reporting period ending June 28, 2026. The Company is currently in the process of evaluating the impact of adoption on its Consolidated Financial Statements.

REVENUE

REVENUE	3 Months Ended
REVENUE	Sep. 29, 2024
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE Disaggregation of Revenue The Company operates in one reportable business segment: manufacturing and servicing of wafer processing semiconductor manufacturing equipment. The Company’s material operating segments qualify for aggregation due to their customer base and similarities in economic characteristics, nature of products and services, and processes for procurement, manufacturing, and distribution. The Company operates in seven geographic regions: United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan. For geographical reporting, revenue is attributed to the geographic location in which the customers’ facilities are located. The Company serves three primary markets: memory, foundry, and logic/integrated device manufacturing. The following table presents the Company’s revenues disaggregated between systems and customer support-related revenue: Three Months Ended September 29, September 24, (In thousands) Systems revenue $ 2,392,730 $ 2,056,655 Customer support-related revenue and other 1,775,246 1,425,407 $ 4,167,976 $ 3,482,062 Systems revenue includes sales of new leading-edge equipment in deposition, etch and clean markets. Customer support-related revenue includes sales of customer service, spares, upgrades, and non-leading-edge equipment from the Company’s Reliant product line. The following table presents the Company’s revenues disaggregated by geographic region: Three Months Ended September 29, September 24, (In thousands) China $ 1,558,404 $ 1,687,311 Korea 762,081 547,945 Taiwan 615,368 242,490 United States 488,381 282,224 Japan 301,386 324,520 Southeast Asia 244,789 159,103 Europe 197,567 238,469 $ 4,167,976 $ 3,482,062 The following table presents the percentages of leading- and non-leading-edge equipment and upgrade revenue to each of the primary markets the Company serves: Three Months Ended September 29, September 24, Memory 35 % 38 % Foundry 41 % 36 % Logic/integrated device manufacturing 24 % 26 % Deferred Revenue Revenue of $371.4 million included in deferred profit at June 30, 2024 was recognized during the three months ended September 29, 2024, representing 24% of the $1,551.6 million of deferred revenue as of June 30, 2024. The following table summarizes the transaction price for contracts that have not yet been recognized as revenue as of September 29, 2024 and when the Company expects to recognize the amounts as revenue: Less than 1 Year 1-3 Years More than 3 Years Total (In thousands) Deferred revenue $ 1,575,595 $ 410,209 (1) $ 61,239 (1) $ 2,047,043 (1) This amount is reported in Deferred profit on the Company's Condensed Consolidated Balance Sheets as the customers can demand the performance to be satisfied at any time.

EQUITY-BASED COMPENSATION PLANS

EQUITY-BASED COMPENSATION PLANS	3 Months Ended
EQUITY-BASED COMPENSATION PLANS	Sep. 29, 2024
Share-Based Payment Arrangement [Abstract]
EQUITY-BASED COMPENSATION PLANS	EQUITY-BASED COMPENSATION PLANS The Lam Research Corporation 2015 Stock Incentive Plan, as amended, provides for the grant of non-qualified equity-based awards of the Company’s Common Stock to eligible employees and non-employee directors, including stock options, restricted stock units (“RSUs”), and market-based performance RSUs (“market-based PRSUs”). An option is a right to purchase Common Stock at a set price. An RSU award is an agreement to issue a set number of shares of Common Stock at the time of vesting. The Company’s market-based PRSUs contain both a market condition and a service condition. The Company’s option, RSU, and market-based PRSU awards typically vest over a period of three years. The Company also has an employee stock purchase plan that allows eligible employees to purchase its Common Stock at a discount through payroll deductions. The Company recognized the following equity-based compensation expense (including expense related to the employee stock purchase plan) and related income tax benefit in the Condensed Consolidated Statements of Operations: Three Months Ended September 29, September 24, (in thousands) Equity-based compensation expense $ 80,011 $ 67,211 Income tax benefit recognized related to equity-based compensation expense $ 10,582 $ 9,564

OTHER INCOME (EXPENSE), NET

OTHER INCOME (EXPENSE), NET	3 Months Ended
OTHER INCOME (EXPENSE), NET	Sep. 29, 2024
Other Income and Expenses [Abstract]
OTHER INCOME (EXPENSE), NET	OTHER INCOME (EXPENSE), NET The significant components of other income (expense), net, are as follows: Three Months Ended September 29, September 24, (in thousands) Interest income $ 68,449 $ 56,564 Interest expense (44,946) (45,331) Gains (losses) on deferred compensation plan-related assets, net 17,420 (2,901) Foreign exchange (losses) gains, net (9,686) 1,269 Other, net (1,156) (7,000) $ 30,081 $ 2,601

INCOME TAX EXPENSE

INCOME TAX EXPENSE	3 Months Ended
INCOME TAX EXPENSE	Sep. 29, 2024
Income Tax Disclosure [Abstract]
INCOME TAX EXPENSE	INCOME TAX EXPENSE The Company’s provision for income taxes and effective tax rate are as follows: Three Months Ended September 29, September 24, (in thousands, except percentages) Income tax expense $ 177,834 $ 138,232 Effective tax rate 13.7 % 13.5 % The difference between the U.S. federal statutory tax rate of 21% and the Company’s effective tax rate for the three months ended September 29, 2024 and September 24, 2023 was primarily due to income in lower tax jurisdictions. The Internal Revenue Service (“IRS”) is examining the Company’s U.S. federal income tax returns for the fiscal years ended June 30, 2019, June 28, 2020 and June 27, 2021. To date, no significant adjustments have been proposed by the IRS. The Company is unable to make a reasonable estimate as to when cash settlements, if any, with the IRS will occur. The Company is in various stages of examinations in connection with all of its tax audits worldwide, and it is difficult to determine when these examinations will be settled. It is reasonably possible that over the next 12-month period the Company may experience an increase or decrease in its uncertain tax positions as a result of tax examinations or lapses of statutes of limitation. The change in uncertain tax positions as a result of lapses of statutes of limitation may range up to $210.1 million.

NET INCOME PER SHARE

NET INCOME PER SHARE	3 Months Ended
NET INCOME PER SHARE	Sep. 29, 2024
Earnings Per Share [Abstract]
NET INCOME PER SHARE	NET INCOME PER SHARE Basic net income per share is computed by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted net income per share is computed using the treasury stock method, for dilutive stock options, and restricted stock units. The following table reconciles the inputs to the basic and diluted computations for net income per share. Three Months Ended September 29, September 24, (in thousands, except per share data) Numerator: Net income $ 1,116,444 $ 887,398 Denominator: Basic average shares outstanding 1,299,236 1,325,840 Effect of potential dilutive securities: Employee stock plans 4,830 5,824 Diluted average shares outstanding 1,304,066 1,331,664 Net income per share - basic $ 0.86 $ 0.67 Net income per share - diluted $ 0.86 $ 0.67 For purposes of computing diluted net income per share, weighted-average common shares do not include potentially dilutive securities that are anti-dilutive under the treasury stock method. These anti-dilutive securities, including options and RSUs, were not material for the three months ended September 29, 2024 and September 24, 2023.

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	3 Months Ended
FINANCIAL INSTRUMENTS	Sep. 29, 2024
Fair Value Disclosures [Abstract]
FINANCIAL INSTRUMENTS	FINANCIAL INSTRUMENTS The Company’s investment strategies and investment and fair value policies are unchanged from those disclosed in Note 9, “Financial Instruments,” to the Consolidated Financial Statements in Part II, Item 8 of its 2024 Form 10-K. As of September 29, 2024 and June 30, 2024, the fair value of mutual funds and equity investments were not material. The Company had no debt security investments as of September 29, 2024 and June 30, 2024. The financial statement impacts to the Condensed Consolidated Statement of Operations from debt and equity investments were not material as of and for the three months ended September 29, 2024 and September 24, 2023. The financial instruments reported within Cash and Cash Equivalents in the Company’s Condensed Consolidated Balance Sheets as of September 29, 2024, and June 30, 2024 consisted of the following: September 29, June 30, (in thousands) Money market funds (fair value measured on a recurring basis, level 1) $ 2,527,002 $ 2,543,462 Cash 1,779,874 1,568,315 Time deposits 1,760,595 1,736,079 Total $ 6,067,471 $ 5,847,856 Derivative Instruments and Hedging The Company’s hedging strategies and policies are unchanged from those disclosed in Note 9, “Financial Instruments,” to the Consolidated Financial Statements in Part II, Item 8 of its 2024 Form 10-K. As of September 29, 2024 and June 30, 2024, the fair value of outstanding cash flow and balance sheet hedges were not material. The financial statement impacts to the Condensed Consolidated Statement of Operations from derivative instruments and hedging activities were not material as of and for the three months ended September 29, 2024 and September 24, 2023. Concentrations of Credit Risk

INVENTORIES

INVENTORIES	3 Months Ended
INVENTORIES	Sep. 29, 2024
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories are stated at the lower of cost or net realizable value using standard costs that approximate actual costs on a first-in, first-out basis. Inventories consist of the following: September 29, June 30, (in thousands) Raw materials $ 2,837,766 $ 2,921,139 Work-in-process 337,754 284,078 Finished goods 1,034,358 1,012,707 $ 4,209,878 $ 4,217,924

GOODWILL

GOODWILL	3 Months Ended
GOODWILL	Sep. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	GOODWILL The balance of goodwill is approximately $1.6 billion as of September 29, 2024 and June 30, 2024. As of September 29, 2024 and June 30, 2024, $65.4 million of the goodwill balance is tax deductible and the remaining balance is not tax deductible due to purchase accounting and applicable foreign law.

ACCRUED EXPENSES AND OTHER CURR

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	3 Months Ended
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	Sep. 29, 2024
Payables and Accruals [Abstract]
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES Accrued expenses and other current liabilities consist of the following: September 29, June 30, (in thousands) Accrued compensation $ 599,316 $ 516,717 Warranty reserves 227,027 228,060 Income and other taxes payable 475,598 186,700 Dividend payable 297,634 260,905 Other 596,849 609,495 $ 2,196,424 $ 1,801,877

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
COMMITMENTS AND CONTINGENCIES	Sep. 29, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Guarantees The Company has issued certain indemnifications to its lessors for taxes and general liability under some of its agreements. The Company has entered into insurance contracts that are intended to limit its exposure to such indemnifications. As of September 29, 2024, the Company had not recorded any liability on its Condensed Consolidated Financial Statements in connection with these indemnifications, as it does not believe that it is probable that any material amounts will be paid under these guarantees. Generally, the Company indemnifies, under pre-determined conditions and limitations, its customers for infringement of third-party intellectual property rights by the Company’s products or services. The Company seeks to limit its liability for such indemnity to an amount not to exceed the sales price of the products or services subject to its indemnification obligations. The Company does not believe that it is probable that any material amounts will be paid under these guarantees. The Company provides guarantees and standby letters of credit to certain parties as required for certain transactions initiated during the ordinary course of business. As of September 29, 2024, the maximum potential amount of future payments that the Company could be required to make under these arrangements and letters of credit was $210.8 million. The Company does not believe, based on historical experience and information currently available, that it is probable that any material amounts will be required to be paid. In addition, the Company has entered into indemnification agreements with its directors, officers, and certain other employees, consistent with its Bylaws and Certificate of Incorporation; and under local law, the Company may be required to provide indemnification to its employees for actions within the scope of their employment. Although the Company maintains insurance contracts that cover some of the potential liability associated with these indemnification agreements, there is no guarantee that all such liabilities will be covered. The Company does not believe, based on historical experience and information currently available, that it is probable that any material amounts will be required to be paid under such indemnification agreements or statutory obligations. Warranties The Company provides standard warranties on its systems. The liability amount is based on actual historical warranty spending activity by type of system, customer, and geographic region, modified for any known differences such as the impact of system reliability improvements. As of September 29, 2024, warranty reserves totaling $23.3 million were reported in Other long-term liabilities, the remainder were included in Accrued expenses and other current liabilities in the Company’s Condensed Consolidated Balance Sheets. Changes in the Company’s product warranty reserves were as follows: Three Months Ended September 29, September 24, (in thousands) Balance at beginning of period $ 250,404 $ 286,663 Warranties issued during the period 62,730 44,519 Settlements made during the period (44,968) (52,236) Changes in liability for warranties issued during the period 176 (50) Changes in liability for pre-existing warranties (17,967) (13,522) Balance at end of period $ 250,375 $ 265,374 Legal Proceedings While the Company is not currently a party to any legal proceedings that it believes material, the Company is either a defendant or plaintiff in various actions that have arisen from time to time in the normal course of business, including intellectual property claims. The Company accrues for a liability when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Judgment is required in both the determination of probability and the determination as to whether a loss is reasonably estimable. Based on current information, the Company does not believe that a material loss from known matters is probable and therefore has not recorded an accrual of any material amount for litigation or other contingencies related to existing legal proceedings.

STOCK REPURCHASE PROGRAM

STOCK REPURCHASE PROGRAM	3 Months Ended
STOCK REPURCHASE PROGRAM	Sep. 29, 2024
Equity [Abstract]
STOCK REPURCHASE PROGRAM	STOCK REPURCHASE PROGRAM In May 2024, the Board of Directors authorized the Company to repurchase up to an additional $10.0 billion of Common Stock; this authorization supplements the remaining balances from any prior authorizations. These repurchases can be conducted on the open market or as private purchases and may include the use of derivative contracts with large financial institutions, in all cases subject to compliance with applicable law. This repurchase program has no termination date and may be suspended or discontinued at any time. Repurchases under the repurchase program were as follows during the periods indicated. All references to share and per share amounts have been retroactively adjusted to reflect the effects of the stock split. See Note 1 for more information. Period Total Number of Total Cost of Average Price Share (1) Amount (in thousands, except per share data) Available balance as of June 30, 2024 $ 10,824,660 Quarter ended September 29, 2024 11,952 $ 1,003,654 $ 83.97 $ 9,821,006 (1) The Company’s net share repurchases are subject to a 1% excise tax under the Inflation Reduction Act. Excise tax incurred reduces the amount available under the repurchase program, as applicable, and is included in the cost of shares repurchased in the Condensed Consolidated Statement of Stockholders’ Equity and the calculation of the average price paid per share. In addition to the shares repurchased under the Board-authorized repurchase program shown above, during the three months ended September 29, 2024, the Company acquired 59 thousand shares at a total cost of $5.2 million, which the Company withheld through net settlements to cover minimum tax withholding obligations upon the vesting of restricted stock unit awards granted under the Company’s equity compensation plans. The shares retained by the Company through these net share settlements are not a part of the Board-authorized repurchase program but instead are authorized under the Company’s equity compensation plan.

RESTRUCTURING CHARGES, NET

RESTRUCTURING CHARGES, NET	3 Months Ended
RESTRUCTURING CHARGES, NET	Sep. 29, 2024
Restructuring and Related Activities [Abstract]
RESTRUCTURING CHARGES, NET	RESTRUCTURING CHARGES, NET During the fiscal year ended June 25, 2023, the Company initiated a restructuring plan designed to better align the Company’s cost structure with its outlook for the economic environment and business opportunities. Under the plan, through June 30, 2024, the Company terminated approximately 1,760 employees, and incurred expenses related to employee severance and separation costs. Employee severance and separation costs were primarily related to severance, non-cash severance, including equity award compensation expense, pension and other termination benefits. Additionally, the Company made a strategic decision to relocate certain manufacturing activities to pre-existing facilities and incurred charges to move inventory and equipment and exit selected supplier arrangements. No restructuring charges were recorded during the three months ending September 29, 2024. During the three months ended September 24, 2023, net restructuring costs of $7.9 million and $2.0 million were recorded in Restructuring charges, net - cost of goods sold, and Restructuring charges, net - operating expenses, respectively in the Condensed Consolidated Statements of Operations. The restructuring plan was substantially completed as of June 30, 2024, and cumulative costs as of June 30, 2024 totaled $181.9 million. The restructuring liability reported as of June 30, 2024 totaling $1.1 million has been substantially satisfied in the three months ended September 29, 2024.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 29, 2024	Sep. 24, 2023
Pay vs Performance Disclosure
Net income	$ 1,116,444	$ 887,398

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 29, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	3 Months Ended
BASIS OF PRESENTATION (Policies)	Sep. 29, 2024
Accounting Policies [Abstract]
Consolidation	The condensed consolidated financial statements include the accounts of Lam Research and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.
Fiscal Period	The Company’s reporting period is a 52/53-week fiscal year. The Company’s current fiscal year will end June 29, 2025 and includes 52 weeks.
Reclassification	Reclassification: Certain amounts for the June 30, 2024 Condensed Consolidated Balance Sheet and notes to the financial statements have been reclassified to conform to the current period presentation.
Recently Adopted or Effective and Updates Not Yet Effective	Recently Adopted or Effective The Company has not adopted any new accounting standards during the three months ended September 29, 2024 that have a material impact on the Company’s Condensed Consolidated Financial Statements. Updates Not Yet Effective In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures,” which expands disclosures about a public entity’s reportable segments and requires more enhanced information about a reportable segment’s expenses, interim segment profit or loss, and how a public entity’s chief operating decision maker uses reported segment profit or loss information in assessing segment performance and allocating resources. The guidance is effective for financial statements issued for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is required to adopt this standard in the fiscal year 2025 for the annual reporting period ending June 29, 2025, with retrospective disclosure of prior periods presented. The Company is currently in the process of evaluating the impact of adoption on its Consolidated Financial Statements. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,” which requires public entities to disclose consistent categories and greater disaggregation of information in the rate reconciliation and for income taxes paid. It also includes certain other amendments to improve the effectiveness of income tax disclosures. The guidance is effective for financial statements issued for annual periods beginning after December 15, 2024, with early adoption permitted. The Company is required to adopt this standard prospectively in fiscal year 2026 for the annual reporting period ending June 28, 2026. The Company is currently in the process of evaluating the impact of adoption on its Consolidated Financial Statements.
Inventories	Inventories are stated at the lower of cost or net realizable value using standard costs that approximate actual costs on a first-in, first-out basis.
Warranties	The Company provides standard warranties on its systems. The liability amount is based on actual historical warranty spending activity by type of system, customer, and geographic region, modified for any known differences such as the impact of system reliability improvements.

REVENUE (Tables)

REVENUE (Tables)	3 Months Ended
REVENUE (Tables)	Sep. 29, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following table presents the Company’s revenues disaggregated between systems and customer support-related revenue: Three Months Ended September 29, September 24, (In thousands) Systems revenue $ 2,392,730 $ 2,056,655 Customer support-related revenue and other 1,775,246 1,425,407 $ 4,167,976 $ 3,482,062 The following table presents the Company’s revenues disaggregated by geographic region: Three Months Ended September 29, September 24, (In thousands) China $ 1,558,404 $ 1,687,311 Korea 762,081 547,945 Taiwan 615,368 242,490 United States 488,381 282,224 Japan 301,386 324,520 Southeast Asia 244,789 159,103 Europe 197,567 238,469 $ 4,167,976 $ 3,482,062
Schedule of System Revenues of Primary Markets	The following table presents the percentages of leading- and non-leading-edge equipment and upgrade revenue to each of the primary markets the Company serves: Three Months Ended September 29, September 24, Memory 35 % 38 % Foundry 41 % 36 % Logic/integrated device manufacturing 24 % 26 %
Schedule of Contract Transaction Price Not Yet Recognized as Revenue	The following table summarizes the transaction price for contracts that have not yet been recognized as revenue as of September 29, 2024 and when the Company expects to recognize the amounts as revenue: Less than 1 Year 1-3 Years More than 3 Years Total (In thousands) Deferred revenue $ 1,575,595 $ 410,209 (1) $ 61,239 (1) $ 2,047,043 (1) This amount is reported in Deferred profit on the Company's Condensed Consolidated Balance Sheets as the customers can demand the performance to be satisfied at any time.

EQUITY-BASED COMPENSATION PLA_2

EQUITY-BASED COMPENSATION PLANS (Tables)	3 Months Ended
EQUITY-BASED COMPENSATION PLANS (Tables)	Sep. 29, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Recognized Equity Based Compensation Expenses and Benefits	The Company recognized the following equity-based compensation expense (including expense related to the employee stock purchase plan) and related income tax benefit in the Condensed Consolidated Statements of Operations: Three Months Ended September 29, September 24, (in thousands) Equity-based compensation expense $ 80,011 $ 67,211 Income tax benefit recognized related to equity-based compensation expense $ 10,582 $ 9,564

OTHER INCOME (EXPENSE), NET (Ta

OTHER INCOME (EXPENSE), NET (Tables)	3 Months Ended
OTHER INCOME (EXPENSE), NET (Tables)	Sep. 29, 2024
Other Income and Expenses [Abstract]
Schedule of Components of Other Income (Expense), Net	The significant components of other income (expense), net, are as follows: Three Months Ended September 29, September 24, (in thousands) Interest income $ 68,449 $ 56,564 Interest expense (44,946) (45,331) Gains (losses) on deferred compensation plan-related assets, net 17,420 (2,901) Foreign exchange (losses) gains, net (9,686) 1,269 Other, net (1,156) (7,000) $ 30,081 $ 2,601

INCOME TAX EXPENSE (Tables)

INCOME TAX EXPENSE (Tables)	3 Months Ended
INCOME TAX EXPENSE (Tables)	Sep. 29, 2024
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation	The Company’s provision for income taxes and effective tax rate are as follows: Three Months Ended September 29, September 24, (in thousands, except percentages) Income tax expense $ 177,834 $ 138,232 Effective tax rate 13.7 % 13.5 %

NET INCOME PER SHARE (Tables)

NET INCOME PER SHARE (Tables)	3 Months Ended
NET INCOME PER SHARE (Tables)	Sep. 29, 2024
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Computations for Net Income Per Share	The following table reconciles the inputs to the basic and diluted computations for net income per share. Three Months Ended September 29, September 24, (in thousands, except per share data) Numerator: Net income $ 1,116,444 $ 887,398 Denominator: Basic average shares outstanding 1,299,236 1,325,840 Effect of potential dilutive securities: Employee stock plans 4,830 5,824 Diluted average shares outstanding 1,304,066 1,331,664 Net income per share - basic $ 0.86 $ 0.67 Net income per share - diluted $ 0.86 $ 0.67

FINANCIAL INSTRUMENTS (Tables)

FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
FINANCIAL INSTRUMENTS (Tables)	Sep. 29, 2024
Fair Value Disclosures [Abstract]
Schedule of Cash and Cash Equivalents	The financial instruments reported within Cash and Cash Equivalents in the Company’s Condensed Consolidated Balance Sheets as of September 29, 2024, and June 30, 2024 consisted of the following: September 29, June 30, (in thousands) Money market funds (fair value measured on a recurring basis, level 1) $ 2,527,002 $ 2,543,462 Cash 1,779,874 1,568,315 Time deposits 1,760,595 1,736,079 Total $ 6,067,471 $ 5,847,856

INVENTORIES (Tables)

INVENTORIES (Tables)	3 Months Ended
INVENTORIES (Tables)	Sep. 29, 2024
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consist of the following: September 29, June 30, (in thousands) Raw materials $ 2,837,766 $ 2,921,139 Work-in-process 337,754 284,078 Finished goods 1,034,358 1,012,707 $ 4,209,878 $ 4,217,924

ACCRUED EXPENSES AND OTHER CU_2

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)	3 Months Ended
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)	Sep. 29, 2024
Payables and Accruals [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consist of the following: September 29, June 30, (in thousands) Accrued compensation $ 599,316 $ 516,717 Warranty reserves 227,027 228,060 Income and other taxes payable 475,598 186,700 Dividend payable 297,634 260,905 Other 596,849 609,495 $ 2,196,424 $ 1,801,877

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	3 Months Ended
COMMITMENTS AND CONTINGENCIES (Tables)	Sep. 29, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Changes in Product Warranty Reserves	Changes in the Company’s product warranty reserves were as follows: Three Months Ended September 29, September 24, (in thousands) Balance at beginning of period $ 250,404 $ 286,663 Warranties issued during the period 62,730 44,519 Settlements made during the period (44,968) (52,236) Changes in liability for warranties issued during the period 176 (50) Changes in liability for pre-existing warranties (17,967) (13,522) Balance at end of period $ 250,375 $ 265,374

STOCK REPURCHASE PROGRAM (Table

STOCK REPURCHASE PROGRAM (Tables)	3 Months Ended
STOCK REPURCHASE PROGRAM (Tables)	Sep. 29, 2024
Equity [Abstract]
Schedule of Repurchases Under the Repurchase Program	Repurchases under the repurchase program were as follows during the periods indicated. All references to share and per share amounts have been retroactively adjusted to reflect the effects of the stock split. See Note 1 for more information. Period Total Number of Total Cost of Average Price Share (1) Amount (in thousands, except per share data) Available balance as of June 30, 2024 $ 10,824,660 Quarter ended September 29, 2024 11,952 $ 1,003,654 $ 83.97 $ 9,821,006 (1) The Company’s net share repurchases are subject to a 1% excise tax under the Inflation Reduction Act. Excise tax incurred reduces the amount available under the repurchase program, as applicable, and is included in the cost of shares repurchased in the Condensed Consolidated Statement of Stockholders’ Equity and the calculation of the average price paid per share.

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details)	Oct. 02, 2024	Sep. 29, 2024 $ / shares	Jun. 30, 2024 $ / shares	May 21, 2024 $ / shares
Subsequent Event [Line Items]
Common stock, par value (in dollars per share)		$ 0.001	$ 0.001	$ 0.001
Subsequent event
Subsequent Event [Line Items]
Stock split ratio	10

REVENUE - Additional Informatio

REVENUE - Additional Information (Details) $ in Millions	3 Months Ended
REVENUE - Additional Information (Details) $ in Millions	Sep. 29, 2024 USD ($) primary_market region segment	Jun. 30, 2024 USD ($)
Revenue from Contract with Customer [Abstract]
Number of reportable business segment \| segment	1
Number of operating geographic regions \| region	7
Number of primary markets \| primary_market	3
Revenue recognized	$ 371.4
Percentage of deferred revenue	24%
Deferred revenue		$ 1,551.6

REVENUE - Schedule of Disaggreg

REVENUE - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 29, 2024	Sep. 24, 2023
Disaggregation of Revenue [Line Items]
Revenue	$ 4,167,976	$ 3,482,062
China
Disaggregation of Revenue [Line Items]
Revenue	1,558,404	1,687,311
Korea
Disaggregation of Revenue [Line Items]
Revenue	762,081	547,945
Taiwan
Disaggregation of Revenue [Line Items]
Revenue	615,368	242,490
United States
Disaggregation of Revenue [Line Items]
Revenue	488,381	282,224
Japan
Disaggregation of Revenue [Line Items]
Revenue	301,386	324,520
Southeast Asia
Disaggregation of Revenue [Line Items]
Revenue	244,789	159,103
Europe
Disaggregation of Revenue [Line Items]
Revenue	197,567	238,469
Systems revenue
Disaggregation of Revenue [Line Items]
Revenue	2,392,730	2,056,655
Customer support-related revenue and other
Disaggregation of Revenue [Line Items]
Revenue	$ 1,775,246	$ 1,425,407

REVENUE - Schedule of System Re

REVENUE - Schedule of System Revenues of Primary Markets (Details) - Revenue - Equipment and upgrade revenue	3 Months Ended
	Sep. 29, 2024	Sep. 24, 2023
Memory
Concentration Risk [Line Items]
Concentration	35%	38%
Foundry
Concentration Risk [Line Items]
Concentration	41%	36%
Logic/integrated device manufacturing
Concentration Risk [Line Items]
Concentration	24%	26%

REVENUE - Schedule of Contract

REVENUE - Schedule of Contract Transaction Price Not Yet Recognized as Revenue (Details) $ in Thousands	Sep. 29, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue	$ 2,047,043
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-09-30
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue	$ 1,575,595
Recognition period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-09-29
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue	$ 410,209
Recognition period	2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-09-27
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue	$ 61,239
Recognition period

EQUITY-BASED COMPENSATION PLA_3

EQUITY-BASED COMPENSATION PLANS - Additional Information (Details)	3 Months Ended
	Sep. 29, 2024
Share-Based Payment Arrangement [Abstract]
Vesting period (in years)	3 years

EQUITY-BASED COMPENSATION PLA_4

EQUITY-BASED COMPENSATION PLANS - Schedule of Recognized Equity Based Compensation Expenses and Benefits (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 29, 2024	Sep. 24, 2023
Share-Based Payment Arrangement [Abstract]
Equity-based compensation expense	$ 80,011	$ 67,211
Income tax benefit recognized related to equity-based compensation expense	$ 10,582	$ 9,564

OTHER INCOME (EXPENSE), NET (De

OTHER INCOME (EXPENSE), NET (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 29, 2024	Sep. 24, 2023
Other Income and Expenses [Abstract]
Interest income	$ 68,449	$ 56,564
Interest expense	(44,946)	(45,331)
Gains (losses) on deferred compensation plan-related assets, net	17,420	(2,901)
Foreign exchange (losses) gains, net	(9,686)	1,269
Other, net	(1,156)	(7,000)
Other income (expense), net	$ 30,081	$ 2,601

INCOME TAX EXPENSE (Details)

INCOME TAX EXPENSE (Details) - USD ($) $ in Thousands	3 Months Ended
INCOME TAX EXPENSE (Details) - USD ($) $ in Thousands	Sep. 29, 2024	Sep. 24, 2023
Income Tax Disclosure [Abstract]
Income tax expense	$ 177,834	$ 138,232
Effective tax rate	13.70%	13.50%
Tax examinations or lapses of statute of limitation
Income Tax Contingency [Line Items]
Estimated unrecognized tax benefits reduction (up to)	$ 210,100

NET INCOME PER SHARE (Details)

NET INCOME PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 29, 2024	Sep. 24, 2023
Numerator:
Net income	$ 1,116,444	$ 887,398
Denominator:
Basic average shares outstanding (in shares)	1,299,236	1,325,840
Effect of potential dilutive securities:
Employee stock plans (in shares)	4,830	5,824
Diluted average shares outstanding (in shares)	1,304,066	1,331,664
Net income per share - basic (in dollars per share)	$ 0.86	$ 0.67
Net income per share - diluted (in dollars per share)	$ 0.86	$ 0.67

FINANCIAL INSTRUMENTS (Details)

FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	Sep. 29, 2024	Jun. 30, 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial instruments	$ 6,067,471	$ 5,847,856
Money market funds (fair value measured on a recurring basis, level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial instruments	2,527,002	2,543,462
Cash
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial instruments	1,779,874	1,568,315
Time deposits
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial instruments	$ 1,760,595	$ 1,736,079

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Sep. 29, 2024	Jun. 30, 2024
Inventory Disclosure [Abstract]
Raw materials	$ 2,837,766	$ 2,921,139
Work-in-process	337,754	284,078
Finished goods	1,034,358	1,012,707
Total inventories	$ 4,209,878	$ 4,217,924	[1]

[1] Derived from audited financial statements

GOODWILL (Details)

GOODWILL (Details) - USD ($) $ in Millions	Sep. 29, 2024	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and intangible assets	$ 1,600	$ 1,600
Tax deductible goodwill	$ 65.4	$ 65.4

ACCRUED EXPENSES AND OTHER CU_3

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Sep. 29, 2024	Jun. 30, 2024
Payables and Accruals [Abstract]
Accrued compensation	$ 599,316	$ 516,717
Warranty reserves	227,027	228,060
Income and other taxes payable	475,598	186,700
Dividend payable	297,634	260,905
Other	596,849	609,495
Accrued expenses and other current liabilities	$ 2,196,424	$ 1,801,877	[1]

[1] Derived from audited financial statements

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Additional Information (Details) - USD ($) $ in Thousands	Sep. 29, 2024	Jun. 30, 2024	Sep. 24, 2023	Jun. 25, 2023
Loss Contingencies [Line Items]
Warranty reserves	$ 250,375	$ 250,404	$ 265,374	$ 286,663
Other long-term liabilities
Loss Contingencies [Line Items]
Warranty reserves	23,300
Letters of Credit
Loss Contingencies [Line Items]
Maximum potential amount of future payments	$ 210,800

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Schedule of Changes in Product Warranty Reserves (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 29, 2024	Sep. 24, 2023
Changes in Product Warranty Reserve
Balance at beginning of period	$ 250,404	$ 286,663
Warranties issued during the period	62,730	44,519
Settlements made during the period	(44,968)	(52,236)
Changes in liability for warranties issued during the period	176	(50)
Changes in liability for pre-existing warranties	(17,967)	(13,522)
Balance at end of period	$ 250,375	$ 265,374

STOCK REPURCHASE PROGRAM - Addi

STOCK REPURCHASE PROGRAM - Additional Information (Details) - USD ($) shares in Thousands	1 Months Ended	3 Months Ended
	May 31, 2024	Sep. 29, 2024
Equity, Class of Treasury Stock [Line Items]
Net shares of settlements to cover tax withholding obligations (in shares)		59
Amount paid for shares under net share settlements		$ 5,200,000
Stock repurchase program
Equity, Class of Treasury Stock [Line Items]
Increase in authorized amount	$ 10,000,000,000

STOCK REPURCHASE PROGRAM - Sche

STOCK REPURCHASE PROGRAM - Schedule of Repurchases Under the Repurchase Program (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 29, 2024	Sep. 24, 2023	Jun. 30, 2024
Equity, Class of Treasury Stock [Line Items]
Total Cost of Repurchase	$ 1,008,886	$ 835,520
Stock repurchase program
Equity, Class of Treasury Stock [Line Items]
Total Number of Shares Repurchased (in shares)	11,952
Total Cost of Repurchase	$ 1,003,654
Average Price Paid Per Share (in dollars per share)	$ 83.97
Amount Available Under Repurchase Program	$ 9,821,006		$ 10,824,660

RESTRUCTURING CHARGES, NET (Det

RESTRUCTURING CHARGES, NET (Details)	3 Months Ended		24 Months Ended
RESTRUCTURING CHARGES, NET (Details)	Sep. 29, 2024 USD ($)	Sep. 24, 2023 USD ($)	Jun. 30, 2024 USD ($) employee
Restructuring and Related Activities [Abstract]
Headcount reduction \| employee			1,760
Restructuring charges, net - cost of goods sold	$ 0	$ 7,940,000
Restructuring charges, net - operating expenses	$ 0	$ 2,021,000
Cumulative cost			$ 181,900,000
Restructuring reserve			$ 1,100,000