
Lam Research (LRCX) Stock Forecast & Price Target
Lam Research (LRCX) Analyst Ratings
Bulls say
Lam Research has demonstrated a positive growth trajectory, evidenced by a valuation multiple increase from 24x to 26x, driven by strong momentum and favorable revisions. The company's financial model for CY28 maintains expected growth in Service revenues, projecting a 1.5x increase from CY24 levels and a potential doubling when the semiconductor industry reaches $1 trillion in revenues. Additionally, Lam's market share in the global wafer fabrication equipment sector has grown from approximately 10% a decade ago to around 15%, with impressive gross margins of 50.6% that have benefited from a favorable product mix, further supporting the bullish outlook for the company.
Bears say
The financial outlook for Lam Research appears negative due to significant downward revisions in revenue guidance, particularly influenced by new U.S. government export regulations and declining Chinese market contributions. The company's gross margins are projected to decrease to 48.5% as the customer mix worsens, with China's share of sales expected to shrink from 43% to under 30% by CY26. Additionally, Lam anticipates a $600 million reduction in sales due to the implementation of the "50% rule," alongside expected tariff-related challenges that could further dampen the company's financial performance in the near term.
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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