Is LRCX a good stock to buy?
We came across a bullish thesis on Lam Research Corporation on Nikhs’s Substack
In this article, we will summarize the bulls’ thesis on LRCX. Lam Research Corporation’s share was trading at $258.57 as of May 4th. LRCX’s trailing and forward P/E were 48.53 and 33.22 respectively according to Yahoo Finance.
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits in the United States, China, Korea, Taiwan, Japan, Southeast Asia, and Europe. LRCX is increasingly re-rated as a structural compounder in semiconductor manufacturing, as 3QFY26 results show artificial intelligence is driving wafer fabrication equipment demand while increasing etch and deposition intensity for advanced NAND, DRAM, and packaging. 15 AI Stocks That Are Quietly Making Investors Rich Undervalued AI Stock Poised For Massive Gains: 10000% Upside Potential The company reported $5.84 billion in revenue and $1.47 in non-GAAP EPS, with gross margins of 49.9% and guidance moving to 50.5%, reinforcing that profitability is becoming structurally elevated rather than cyclical. AI-driven architecture shifts, particularly the rise of high-density QLC NAND and 1c DRAM nodes, are expanding Lam’s content per wafer and accelerating a $40 billion NAND conversion cycle now expected to complete largely by 2027.