
Lam Research (LRCX) Stock Forecast & Price Target
Lam Research (LRCX) Analyst Ratings
Bulls say
Lam Research has demonstrated significant revenue growth, particularly in the memory sector, with DRAM revenue rising 36% quarter-over-quarter and 13% year-over-year, driven by robust demand for advanced technologies such as HBM4/4E. The company's services revenue also exhibited strength, increasing 12% quarter-over-quarter, reflecting ongoing upgrades in NAND-related systems. Looking forward, Lam Research is poised to benefit from an overall semiconductor wafer fabrication equipment (WFE) market projected to grow approximately 23% year-over-year to $135 billion in CY26, supported by the company's increasing market share and expansion in key areas.
Bears say
Lam Research is experiencing a negative outlook primarily due to a decline in gross margin, which, despite being above guidance, has decreased by 90 basis points quarter-over-quarter, attributed to a less favorable customer mix and reduced revenue from China. The company faces increased risks from export controls affecting its significant revenue share from Chinese customers, which has declined from 43% to 35%, further projected to diminish in future quarters. Additionally, demand volatility from leading-edge clients like TSMC and Samsung, alongside planned capital expenditure cuts by Intel, pose significant challenges to Lam Research's equipment orders and overall market potential.
This aggregate rating is based on analysts' research of Lam Research and is not a guaranteed prediction by Public.com or investment advice.
Lam Research (LRCX) Analyst Forecast & Price Prediction
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