Lam Research is one of the largest semiconductor wafer fabrication equipment manufacturers in the world. It specializes in deposition and etch, which entail the buildup of layers on a semiconductor and the subsequent selective removal of patterns from each layer. Lam holds the top market share in etch and holds the clear second share in deposition. It is more exposed to memory chipmakers for DRAM and NAND chips. It counts as top customers the largest chipmakers in the world, including TSMC, Samsung, Intel, and Micron.
Applied Materials Inc
KLA Corporation Common Stock
Nvidia Corp
Micron Technology, Inc.
Meta Platforms, Inc. Class A Common Stock
MKS Inc. Common Stock
Nova Ltd. Ordinary Shares
Onto Innovation Inc.
The chart shows the growth of an initial investment of $10,000 in Lam Research Corp, comparing it to the performance of the S&P 500 index.
All prices have been adjusted for splits and dividends.
Lam Research Corp (LRCX) has returned 22.82% so far this year and 277.14% over the past 12 months. Looking at the last ten years, LRCX has achieved an annualized return of 38.69%, outperforming the Benchmark (SPY), which averaged 12.23% per year.
The table below presents the monthly returns of Lam Research Corp (LRCX) with color gradation from worst to best to easily spot seasonal factors.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 31.27% | 0.24% | -6.81% | 1.39% | ||||||||
| 2025 | 11.47% | -2.83% | -6.72% | -0.51% | 11.93% | 20.79% | -1.81% | 8.03% | 39.82% | 18.92% | -2.49% | 10.55% |
| 2024 | 7.34% | 12.79% | 2.81% | -7.99% | 5.59% | 12.45% | -13.28% | -3.95% | 1.31% | -9.05% | -0.65% | -2.23% |
| 2023 | 16.38% | -2.54% | 8.20% | -0.00% | 17.72% | 4.24% | 11.76% | -0.91% | -11.63% | -6.22% | 20.75% | 10.00% |
| 2022 | -18.20% | -4.86% | -3.66% | -13.94% | 11.29% | -18.55% | 22.34% | -10.44% | -13.78% | 8.72% | 14.38% | -12.31% |
| 2021 | 1.21% | 15.51% | 3.24% | 1.51% | 3.27% | -0.81% | -1.58% | -6.40% | -6.38% | -1.32% | 20.33% | 3.82% |
| 2020 | 0.82% | -2.19% | -19.09% | 11.50% | 10.92% | 19.53% | 17.08% | -11.68% | -2.30% | 0.87% | 30.03% | 2.65% |
| 2019 | 27.06% | 3.46% | 0.75% | 13.97% | -16.07% | 7.04% | 7.22% | 1.26% | 9.53% | 16.33% | -2.55% | 9.73% |
| 2018 | 3.44% | 0.98% | 5.54% | -8.15% | 7.62% | -13.57% | 12.15% | -8.84% | -11.67% | -5.91% | 10.04% | -15.42% |
| 2017 | 7.67% | 2.27% | 7.89% | 12.62% | 6.33% | -8.91% | 11.74% | 3.45% | 11.46% | 12.72% | -8.61% | -3.12% |
| 2016 | -7.15% | 8.39% | 1.84% | 6.93% | 3.49% | 1.19% | 2.88% | 9.12% | 0.08% |
The charts below present risk-adjusted performance metrics for Lam Research Corp (LRCX) and compare them to a Benchmark (SPY). These indicators evaluate an investment's returns against its associated risks.
The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk.
These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns.
The chart below shows the rolling Sharpe ratio of LRCX compared to the benchmark. This view highlights how the investment's risk-adjusted performance has changed over time.
The current Lam Research Corp volatility is 4.19%, representing the standart deviation of percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.
The Drawdowns chart displays portfolio losses from any high point along the way. It shows the maximum percentage drop from a peak to a trough over a specified period, indicating the risk of significant losses.
Although chart shows positive values, it represents the percentage drop from the peak, so a value of 10% means the portfolio has dropped 10% from its highest point.
The income statement provides a summary of a company's revenues, expenses, and profits over a specific period. It shows how much money the company earned (revenues) and how much it spent (expenses), leading to the net income or profit. This statement is crucial for understanding a company's financial performance and profitability.
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Liabilities And Equity (USD) | 21.35B | 18.74B | 18.78B | 17.20B | 15.89B | 14.56B | 12.00B | 12.48B | 12.12B | 12.27B | 9.36B | 7.99B | 7.25B | 8.00B | 4.06B |
| Temporary Equity Attributable To Parent (USD) | - | - | - | - | - | 11.00M | 49.44M | 78.19M | 169.86M | 207.55M | 241.81M | 183.35M | 186.92M | 190.34M | - |
| Temporary Equity (USD) | - | - | - | - | - | 11.00M | 49.44M | 78.19M | 169.86M | 207.55M | 241.81M | 183.35M | 186.92M | 190.34M | - |
| Equity Attributable To Parent (USD) | 9.86B | 8.54B | 8.21B | 6.28B | 6.03B | 5.17B | 4.67B | 6.50B | 6.82B | 5.89B | 5.10B | 5.03B | 4.49B | 5.13B | 2.47B |
| Equity Attributable To Noncontrolling Interest (USD) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Equity (USD) | 9.86B | 8.54B | 8.21B | 6.28B | 6.03B | 5.17B | 4.67B | 6.50B | 6.82B | 5.89B | 5.10B | 5.03B | 4.49B | 5.13B | 2.47B |
| Other Non-current Liabilities (USD) | 445.85M | 899.48M | 1.42B | 1.39B | 1.38B | 417.64M | 476.37M | 380.38M | - | - | - | - | - | - | 176.96M |
| Long-term Debt (USD) | 4.47B | 4.97B | 4.97B | 4.96B | 4.96B | 5.80B | 4.43B | 2.37B | 2.69B | 4.33B | - | 1.32B | 1.29B | 1.26B | 726.30M |
| Noncurrent Liabilities (USD) | 4.92B | 5.87B | 6.39B | 6.35B | 6.34B | 6.21B | 4.91B | 2.75B | 2.19B | 3.75B | 1.39B | 1.20B | 1.17B | 1.26B | 903.26M |
| Other Current Liabilities (USD) | 5.71B | 3.72B | 3.71B | 3.55B | 2.70B | 2.57B | 2.00B | 2.64B | 2.49B | 2.07B | 2.33B | 1.36B | 1.20B | 1.17B | 520.75M |
| Accounts Payable (USD) | 854.21M | 613.97M | 470.70M | 1.01B | 829.71M | 592.39M | 376.56M | 510.98M | 464.64M | 348.20M | 300.20M | 223.52M | 200.25M | 258.78M | 163.54M |
| Current Liabilities (USD) | 6.57B | 4.34B | 4.18B | 4.56B | 3.53B | 3.16B | 2.37B | 3.15B | 2.95B | 2.42B | 2.63B | 1.58B | 1.40B | 1.43B | 684.29M |
| Liabilities (USD) | 11.48B | 10.21B | 10.57B | 10.92B | 9.86B | 9.38B | 7.28B | 5.90B | 5.14B | 6.17B | 4.02B | 2.78B | 2.57B | 2.68B | 1.59B |
| Other Non-current Assets (USD) | 4.24B | 3.59B | 3.58B | 3.20B | 2.85B | 2.48B | 2.16B | 2.11B | 1.88B | 1.85B | 1.74B | 1.77B | 1.78B | 1.76B | 462.71M |
| Intangible Assets (USD) | 182.20M | 138.55M | 168.45M | 101.85M | 132.37M | 168.53M | 216.95M | 317.84M | 411.00M | 564.92M | 728.14M | 894.08M | 1.07B | 1.24B | 47.43M |
| Fixed Assets (USD) | 2.41B | 2.13B | 1.80B | 1.61B | 1.26B | 1.05B | 1.06B | 902.55M | 685.60M | 639.61M | 621.42M | 543.50M | 603.91M | 584.60M | 270.46M |
| Noncurrent Assets (USD) | 6.83B | 5.86B | 5.55B | 4.91B | 4.24B | 3.71B | 3.44B | 3.33B | 2.98B | 3.06B | 3.09B | 3.21B | 3.46B | 3.59B | 780.60M |
| Other Current Assets (USD) | 10.21B | 8.67B | 8.41B | 8.32B | 8.96B | 8.95B | 7.02B | 7.27B | 7.91B | 8.24B | 5.33B | 4.04B | 3.23B | 3.78B | 2.88B |
| Inventory (USD) | 4.31B | 4.22B | 4.82B | 3.97B | 2.69B | 1.90B | 1.54B | 1.88B | 1.23B | 971.91M | 943.35M | 740.50M | 559.32M | 632.85M | 396.61M |
| Current Assets (USD) | 14.52B | 12.88B | 13.23B | 12.29B | 11.65B | 10.85B | 8.56B | 9.15B | 9.14B | 9.21B | 6.27B | 4.78B | 3.79B | 4.42B | 3.28B |
| Assets (USD) | 21.35B | 18.74B | 18.78B | 17.20B | 15.89B | 14.56B | 12.00B | 12.48B | 12.12B | 12.27B | 9.36B | 7.99B | 7.25B | 8.00B | 4.06B |
Micron Technology increased its fiscal 2026 capex guidance to exceed $25 billion (up from $20 billion) to meet strong AI-driven demand for memory chips, with CEO indicating further increases expected in fiscal 2027. This spending surge benefits semiconductor equipment supplier Lam Research, which derives 34% of revenue from memory equipment sales and has tripled in value over the past year.
U.S. equities retreated on Thursday as Iran rejected Washington's ceasefire proposal, sending Brent crude above $107 per barrel and Treasury yields to multi-session highs. The geopolitical impasse drove energy prices higher while gold fell on inflation concerns. The S&P 500 declined 0.7%, Nasdaq 100 fell 1%, and the VIX climbed to 26.82. Technology stocks were hammered following Alphabet's AI efficiency research, while energy stocks surged.
The global semiconductor etch equipment market is projected to grow at a CAGR of 8.7% from 2026 to 2032, reaching USD 28.26 billion by 2032 from USD 14.51 billion in 2024. Growth is driven by advanced semiconductor node manufacturing, AI/IoT demand, and global fab capacity expansion. However, high capital costs, supply chain disruptions, and export control constraints remain key challenges.
The Vanguard U.S. Momentum Factor ETF (VFMO) is an actively managed fund that uses a quantitative model to identify top-performing stocks across all market caps. Despite major indexes being in negative territory year-to-date, VFMO has delivered positive returns of 3.4% YTD and 27% over the past 12 months, significantly outperforming the S&P 500 and Russell 3000. The ETF holds 693 stocks with top holdings including Lam Research, GE Vernova, and Micron Technology.
ASML could become Europe's first trillion-dollar company as AI chip demand surges. With Nvidia forecasting $1 trillion in AI chip orders through 2027 and major tech companies spending ~$600 billion on capex in 2026, ASML's virtual monopoly on advanced EUV lithography systems positions it for significant growth. However, its elevated valuation (P/E of 49.3) creates execution pressure and vulnerability to AI spending slowdowns.
The iShares MSCI USA Quality GARP ETF is recommended as a smart investment opportunity during current market volatility. The ETF, which focuses on growth stocks at reasonable prices, has outperformed the S&P 500 and Russell 1000 over both 12-month and 5-year periods, returning 32% and 16% annualized respectively. With concerns about geopolitical tensions, rising unemployment, and an overvalued market, investors are encouraged to take a longer-term view and consider this GARP-focused ETF for quality growth potential.
The U.S. Rapid Thermal Processing (RTP) Equipment Market is projected to grow at a CAGR of 12.08% from 2026 to 2035, driven by increasing semiconductor fabrication, advanced node chip production, and rising demand for AI and 5G chips. The global RTP market is valued at USD 1.77 billion in 2025 and expected to reach USD 3.90 billion by 2035 with a CAGR of 8.27%. Rapid Thermal Annealing (RTA) dominates with 42% market share, while 300mm wafers lead with 64% share. Asia-Pacific holds 50.2% of the global market, with North America growing fastest at 12.60% CAGR.
The article highlights three AI infrastructure stocks as alternatives to Nvidia for building wealth: Broadcom, which creates custom AI chips (ASICs) for major clients like Anthropic and OpenAI; Lam Research, which supplies wafer-processing equipment to chip foundries; and TSMC, the world's largest semiconductor foundry specializing in advanced chip manufacturing. These companies benefit from the massive AI buildout and offer diversification within the AI sector.
Applied Materials, the world's largest supplier of semiconductor wafer fabrication equipment, has seen its stock surge over 100% in six months and remains fairly valued despite the gains. The company is positioned to benefit significantly from massive capital expenditure increases by chip manufacturers like TSMC, Micron, and SK Hynix, with management expecting 20% equipment sales growth in 2026 and continued expansion into 2027.
Applied Materials (AMAT) surged 12% after beating Q1 fiscal 2026 estimates and guiding for 20%+ semiconductor equipment revenue growth in 2026, signaling accelerating AI chip demand. The company's strong results validate the semiconductor equipment thesis and provide exposure opportunities across the sector through direct competitors and ETFs.