$LRCX — FinTwit mentions on Surfaced

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199

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25

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$LRCX

Lam Research

$LRCX

Lam Research

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About this stock

Over the past 12 months, $LRCX generated 197 mentions from 25 distinct FinTwit voices, with the discussion centered primarily on long research themes. The most active commentators were @thevalueist with 31 mentions, @stocksavvyshay with 30 mentions, and @vulturetrades with 22 mentions. The ticker first appeared in the archive on July 18, 2025, and remained actively discussed through early July 2026, reflecting sustained interest in the semiconductor equipment sector.

Recent activity showed $LRCX moving alongside broader semiconductor strength, with mentions concentrated in discussions of wafer fabrication equipment demand and supply chain dynamics. A July 9 post from @investmentguru_ noted $LRCX gaining 5.4% alongside sector-wide momentum tied to AI demand and geopolitical easing, while @martinshkreli on July 4 emphasized the difficulty and capital intensity of operating the equipment necessary for memory production, contrasting the characterization of DRAM as a commodity. The discussion reflected technical and fundamental analysis typical of the long research community engaging with semiconductor capital equipment players.

AI-generated from tracked posts · updated Jul 12, 2026

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28 calls

@martinshkreliJul 4, 2026 · 4:52 PM

while everyone says DRAM is a 'commodity', i disagree. the word commodity means 'anyone can make this with a little capex'. cleanroom and commodity are not in the same universe! $ASML and $LRCX extremely expensive and difficult to operate machines tell you this is not so easy

@yasutaketinJul 1, 2026 · 4:09 PM

今日寄り後に $LRCX と $INTC 入ったけど、半導体の弱さに速攻損切り。アジア市場が落ち着いたと確認できるまでは半導体に慎重になりたい。メンバーシップ配信でも「腰を軽く、早く切ること」を強調してる。

@thevalueistJun 11, 2026 · 4:07 PM

$LRCX Lam Research: Scaling the AI Semiconductor Infrastructure Cycle. Investment Thesis. New: 6/11/26. Lam Research is a critical supplier of wafer fabrication equipment and a primary beneficiary of the AI infrastructure supercycle, anchored by technical leadership in etch and deposition. As chip architectures migrate from planar designs toward complex 3D structures—gate-all-around logic, high-layer-count NAND, HBM stacking, and advanced packaging—the number of etch and deposition steps per wafer rises structurally, expanding Lam's served market independent of unit volume growth. We view the company as leveraged to the most architecture-driven layer of AI equipment spend, where process intensity gains compound the cyclical recovery. The financial profile reflects franchise quality: record revenues, exceptional balance sheet health, and strong through-cycle cash generation, overseen by a management team with deep technical credibility and a disciplined execution record. The shift in memory spending toward HBM and technology upgrades, rather than raw capacity additions, is particularly favorable—it tilts demand toward Lam's highest-value tools and moderates the boom-bust amplitude that has historically defined its memory exposure. The risk profile warrants discipline. China remains the principal overhang, with export controls and geopolitical escalation capable of impairing a meaningful revenue pool. Competitive pressure from other industry leaders in adjacent deposition and etch segments could contest share at key technology inflections. Most immediately, the stock's premium valuation already capitalizes much of the AI-driven growth narrative, leaving limited margin for order pushouts or cyclical disappointment. Net, Lam Research is a scarce, high-performance asset whose forward returns hinge on the durability of AI-driven memory and logic capacity investment rather than on further multiple expansion. The structural case—rising etch and deposition intensity per wafer—is intact and differentiated; the entry point is the debate. HBM and NAND upgrade momentum, advanced packaging adoption, and China policy developments are the key markers from here.

@vulturetradesMay 5, 2026 · 5:09 PM

$LLY potential 2-3x setup like $LRCX

@vulturetradesMay 4, 2026 · 5:35 PM

$LRCX 300 Call 5/15 at 1.20 🚨

@cobraalertsMay 4, 2026 · 5:35 PM

$LRCX 300 CALL 5/15 @ 1.20 🐍🚨

@thevalueistApr 22, 2026 · 11:25 PM

$LRCX KEY READ-THROUGHS FROM LAM RESEARCH Q3 2026 EARNINGS CALL Lam Research’s Q3 2026 call was materially constructive for the broader semiconductor complex, with the most important read-through being that AI-driven demand is broadening from accelerators and HBM into NAND, DRAM node transitions, foundry/logic, advanced packaging, and installed-base productivity. Management raised its 2026 WFE outlook from the prior $135B range to $140B with “a bias to the upside,” stated that customer spending projections have moved higher “across all device segments,” and indicated that 2027 is setting up for “another year of compelling WFE growth.” The call also carried a clear constraint signal: demand is not the limiting factor; cleanroom availability, supply-chain readiness, installation resources, and execution capacity are. The strongest positive read-throughs are for semicap equipment, advanced packaging, HBM/DRAM, NAND/enterprise SSDs, process-control, and semicap subsuppliers. The most relevant negative read-throughs are for mature-node capex, China-exposed demand chains, hyperscaler free cash flow, and longer-duration memory capex intensity if capacity additions eventually outrun demand. SEMICONDUCTOR CAPITAL EQUIPMENT: BROAD WFE UPGRADE EXTENDS THE SEMICAP EARNINGS CYCLE (READ-THROUGH 1) Call support: Lam raised its 2026 WFE view from the prior “$135B range” to “$140B with a bias to the upside,” with management stating that “spending projections from customers have moved higher across all device segments.” Management also stated that this “sets the stage for another year of compelling WFE growth in 2027.” In Q&A, management reinforced that “everything is a little bit stronger” and that the constraint is execution capacity and cleanroom availability, not end demand. Affected companies: Applied Materials (AMAT: US), Tokyo Electron (8035: Japan), ASML Holding (ASML: Netherlands), KLA Corp. (KLAC: US), SCREEN Holdings (7735: Japan), ASM International (ASM: Netherlands). Directional impact and magnitude: Positive, high magnitude for semicap equipment broadly; highest for deposition, etch, process control, advanced packaging, and subsystems exposed to leading-edge capacity additions. Positive, medium magnitude for lithography because Lam’s commentary is not lithography-specific but indicates a broader capacity build. Near-term trading catalyst: Upward estimate revisions for 2026 and 2027 WFE assumptions, particularly where sell-side models still embed a digestion period after the current AI-driven capex surge. Lam’s June quarter guide of $6.6B revenue, 50.5% gross margin, 36.5% operating margin, and $1.65 EPS also raises the probability that peers with similar WFE exposure report stronger order commentary, backlog conversion, and margin leverage. Longer-duration fundamental shift: The call supports a multi-year semicap cycle rather than a 1-year AI pull-forward. The key structural shift is rising equipment intensity per wafer as AI requires more complex memory, logic, and packaging architectures. Lam’s statement that its SAM as a percentage of WFE should expand to slightly above the mid-30s% level in 2026 and toward the high-30s% level over the next few years implies that non-lithography process steps are increasing in economic importance. Transmission mechanism: Higher AI compute demand is causing foundries, memory manufacturers, and advanced packaging customers to raise capital intensity. Equipment vendors benefit through higher systems shipments, longer lead times, improved factory absorption, better pricing for high-value tools, and higher service revenue from elevated fab utilization. The constraint-driven nature of demand increases the value of reliable tools, field support, and process performance, supporting both revenue and margin quality. SEMICONDUCTOR EQUIPMENT COMPETITION: LAM-SPECIFIC SHARE GAINS ARE A NEGATIVE RELATIVE READ-THROUGH FOR SELECT DEPOSITION AND ETCH PEERS (READ-THROUGH 2) Call support: Management stated that Lam’s SAM as a percentage of WFE is expanding and that the company is “well on-track” toward a high-30s% WFE share goal. Lam cited “first dielectric etch wins at a key foundry logic manufacturer,” described Striker-based solutions as “tools of record at all leading memory makers” for bitline spacer applications, and highlighted Kiyo wins where “a customer switched to Kiyo in the middle of their production ramp due to superior DPEC performance and better yield.” Affected companies: Lam Research (LRCX: US), Applied Materials (AMAT: US), Tokyo Electron (8035: Japan), ASM International (ASM: Netherlands), Hitachi High-Tech via Hitachi (6501: Japan). Directional impact and magnitude: Positive, high magnitude for Lam Research. Negative, medium magnitude for selected peer process-tool vendors where overlap exists in deposition, etch, ALD, and process modules. The read-through is relative rather than absolute because the rising WFE tide still benefits most equipment suppliers. Near-term trading catalyst: Lam’s specific share-gain language could drive relative outperformance versus deposition/etch peers if investors conclude that Lam is capturing incremental process steps in DRAM, NAND, and foundry/logic rather than merely growing with WFE. Longer-duration fundamental shift: Process complexity is becoming a share-shift catalyst. High aspect ratio etch, ALD carbide films, dielectric etch, backside stress management, and gap-fill requirements are moving from niche process challenges to core enablers of AI-era device scaling. Suppliers with validated process-of-record positions should gain more durable share. Transmission mechanism: As customers migrate to 1C DRAM, >200-layer NAND, and leading-edge foundry/logic architectures, process windows narrow and yield sensitivity increases. Tool vendors with proven performance can displace incumbent tools even during production ramps. Lam’s disclosed mid-ramp Kiyo win is particularly important because mid-ramp tool changes are unusual and usually require a material performance or yield advantage. SEMICAP SUBSUPPLIERS: STRETCHING LEAD TIMES AND NEW CAPACITY BUILDOUTS SUPPORT ORDERS FOR VACUUM, RF, GAS DELIVERY, FLUIDICS, AND PRECISION COMPONENTS (READ-THROUGH 3) Call support: Management stated that lead times are “stretching out a little bit” as demand is “quite strong.” The company is adding a 2nd manufacturing facility in Malaysia in 2H 2026, described as approximately the same size as its existing large facility. Capex rose to $332M, and management said spending is supporting the Malaysia facility as well as lab investments in the U.S. and Taiwan. Headcount rose by approximately 900 sequentially, primarily in manufacturing, field, and R&D. Affected companies: Ichor Holdings (ICHR: US), Ultra Clean Holdings (UCTT: US), MKS Instruments (MKSI: US), Advanced Energy Industries (AEIS: US), VAT Group (VACN: Switzerland), Atlas Copco (ATCOA: Sweden). Directional impact and magnitude: Positive, medium-to-high magnitude for semicap component and subsystem suppliers tied to Lam, Applied Materials, Tokyo Electron, ASML, and KLA production ramps. Highest magnitude for companies exposed to vacuum subsystems, gas delivery, RF power, precision cleaning, flow control, and process-critical modules. Near-term trading catalyst: Lam’s commentary on stronger WFE, stretching lead times, and manufacturing capacity additions supports improved order visibility for the semicap supply chain into 2H 2026 and 2027. Longer-duration fundamental shift: Supply-chain localization, redundancy, and regional manufacturing scale are becoming strategic differentiators for equipment vendors. Subsuppliers that are qualified across multiple global fabs and can support Malaysia, Taiwan, Korea, the U.S., and China supply chains should command better visibility and potentially stronger pricing. Transmission mechanism: As equipment OEMs scale factory output, subsystem suppliers receive higher purchase orders for chambers, gas panels, valves, vacuum assemblies, RF generators, power systems, and precision cleaning services. Higher installed-base utilization also increases aftermarket demand for parts and maintenance-related consumables. PROCESS CONTROL AND METROLOGY: YIELD-CRITICAL COMPLEXITY IS A STRUCTURAL POSITIVE FOR INSPECTION AND METROLOGY (READ-THROUGH 4) Call support: Customers are focused on “throughput, uptime, defectivity, overall fab cycle time,” and management emphasized that small yield improvements are economically meaningful in a constrained environment. Lam described equipment intelligence as using “massive amounts of data coming from our tools on every single wafer” to shorten troubleshooting time, improve tool matching, and improve chamber-to-chamber performance. Affected companies: KLA Corp. (KLAC: US), Onto Innovation (ONTO: US), Nova (NVMI: Israel), Camtek (CAMT: Israel), Applied Materials (AMAT: US). Directional impact and magnitude: Positive, high magnitude for KLA and other process-control vendors; positive, medium magnitude for metrology and inspection suppliers tied to advanced packaging, HBM, and leading-edge foundry. Near-term trading catalyst: Lam’s comments imply that customers are not only adding capacity, but also urgently attempting to extract more output from constrained fabs. This should support process-control spending, software analytics, inspection intensity, and yield-management tools. Longer-duration fundamental shift: AI-era devices increase defect sensitivity across advanced memory, foundry/logic, and packaging. Yield management becomes more valuable as structures become 3D, layers increase, and package integration becomes more complex. Transmission mechanism: Higher layer-count NAND, 1C DRAM, advanced packaging, and leading-edge foundry flows require tighter process windows and more inspection/metrology steps. Process-control vendors benefit as customers need to identify defects earlier, optimize tool matching, reduce excursion risk, and shorten ramp time. Lam’s own equipment-intelligence push validates the broader thesis that data-driven yield control is becoming central to fab productivity. NAND AND ENTERPRISE SSDs: DATA CENTER NAND DEMAND IS INFLECTING FASTER THAN CURRENT MIX SUGGESTS (READ-THROUGH 5) Call support: Management stated that AI transformation is moving “beyond compute and into the storage layer,” that “token economics” are driving changes in the AI memory hierarchy, and that data centers are adopting “higher layer count QLC based NAND devices for SSDs.” Lam expects “total datacenter bits this year to be greater than both PC and mobile segments combined.” The company also said the majority of the previously discussed roughly $40B NAND conversion spending should occur before the end of calendar 2027. Affected companies: Micron Technology (MU: US), Samsung Electronics (005930: Korea), SK hynix (000660: Korea), SanDisk (SNDK: US), Kioxia Holdings (285A: Japan), Pure Storage (PSTG: US), NetApp (NTAP: US). Directional impact and magnitude: Positive, high magnitude for NAND producers with enterprise SSD exposure. Positive, medium magnitude for enterprise storage vendors and all-flash data-center architectures. Positive, high magnitude for NAND-exposed equipment suppliers, especially Lam and Tokyo Electron. Near-term trading catalyst: NAND-exposed equities could react positively if investors recalibrate the timing of NAND recovery from gradual to accelerated. The key call surprise was not March quarter NVM revenue, which was only 12% of systems revenue, but management’s conviction that conversion spending is being pulled forward into 2026-2027. Longer-duration fundamental shift: NAND is becoming more strategically relevant to AI infrastructure. The call supports a view that AI memory hierarchy is no longer only about HBM and DRAM bandwidth; storage-layer economics are becoming critical as model size, inference activity, data retrieval, and token-generation economics scale. Transmission mechanism: Higher AI storage requirements increase demand for high-capacity QLC enterprise SSDs. NAND producers benefit through bit demand, pricing, mix, and utilization. Equipment suppliers benefit because migration to >200-layer and 256-layer+ NAND requires more high aspect ratio etch, deposition, word line metallization, stress management, and gap-fill content. Enterprise storage vendors benefit if QLC NAND adoption accelerates system refresh cycles and shifts data-center architectures toward denser flash tiers. NAND CAPEX INTENSITY: POSITIVE FOR EQUIPMENT, BUT A LONGER-TERM MARGIN AND FREE CASH FLOW RISK FOR NAND PRODUCERS (READ-THROUGH 6) Call support: Lam stated that roughly $40B of conversion spending is required to enable existing NAND wafer capacity to produce devices with more than 200 layers and that most of this spending is now expected before the end of calendar 2027. Management also indicated that bit-demand growth should eventually drive greenfield investment because installed wafer capacity is expected to decline more than 20% from prior highs by the end of 2026. Affected companies: Micron Technology (MU: US), Samsung Electronics (005930: Korea), SK hynix (000660: Korea), SanDisk (SNDK: US), Kioxia Holdings (285A: Japan). Directional impact and magnitude: Near-term positive, high magnitude for NAND producers due to stronger demand and utilization. Longer-term negative-to-mixed, medium magnitude because the required conversion and greenfield spend raises capital intensity and creates future supply-risk if demand expectations prove too aggressive. Near-term trading catalyst: NAND producers should benefit from evidence that AI data-center demand is absorbing high-capacity QLC bits faster than expected. Longer-duration fundamental shift: NAND scaling is becoming more capital intensive. The industry may need to spend heavily simply to restore effective bit output and technological competitiveness, not just to add incremental wafer starts. Transmission mechanism: Strong AI storage demand improves revenue, mix, and utilization for NAND manufacturers. However, the same trend requires accelerated conversion spending, higher equipment intensity, and eventual greenfield additions. If these investments expand bit supply faster than sustainable demand, the industry could face future price pressure. The most favorable outcome is disciplined conversion-led supply growth; the negative scenario is a greenfield-heavy supply response that recreates historical NAND oversupply dynamics. DRAM AND HBM: 1C MIGRATION AND HBM COMPLEXITY SUPPORT A HIGHER WFE-PER-BIT FRAMEWORK (READ-THROUGH 7) Call support: DRAM reached a record 27% of Lam systems revenue, up from 23% in the prior quarter. Management cited strong HBM investment, migration toward 1C and beyond, and the need to enable DDR5 and LPDDR5. Lam also stated that 1C DRAM is driving a transition from furnace-deposited silicon nitride to ALD silicon carbide low-k films for bitline capacitance reduction, with low-k bitline spacers potentially reducing capacitance by more than 60%. Lam expects its total dielectric deposition SAM in DRAM to grow more than 20%. Affected companies: Micron Technology (MU: US), SK hynix (000660: Korea), Samsung Electronics (005930: Korea), Applied Materials (AMAT: US), ASM International (ASM: Netherlands), Tokyo Electron (8035: Japan), KLA Corp. (KLAC: US). Directional impact and magnitude: Positive, high magnitude for DRAM manufacturers with HBM and leading-node exposure; positive, high magnitude for process equipment vendors exposed to ALD, etch, deposition, and process control. Near-term trading catalyst: Confirmation of record DRAM tool demand and sustained HBM investment supports positive sentiment for memory capex and HBM supply-chain equities. Longer-duration fundamental shift: DRAM scaling economics are increasingly driven by power efficiency, capacitance reduction, and bandwidth rather than capacity alone. This supports higher WFE per incremental bit and structurally improves semicap content intensity. Transmission mechanism: HBM and advanced DRAM nodes require more complex front-end process steps and tighter yield control. Memory manufacturers benefit from AI-driven mix and pricing if demand remains supply-constrained. Equipment suppliers benefit because 1C migration creates new ALD and etch process requirements, while HBM stack complexity increases capital intensity across wafer fabrication, packaging, and test. ADVANCED PACKAGING EQUIPMENT AND TEST: PACKAGING CAPACITY IS A DIRECT BENEFICIARY OF AI ARCHITECTURE COMPLEXITY (READ-THROUGH 8) Call support: Lam expects its advanced packaging revenue growth to exceed 50% in calendar 2026. Management cited copper plating and TSV etch as areas of strength. In Q&A, management also noted that PECVD benefits from advanced packaging underfill applications. On HBM, management said higher stacks require more equipment and that “the trade ratio gets a little more challenging for the industry.” Affected companies: BE Semiconductor Industries (BESI: Netherlands), ASMPT (0522: Hong Kong), Advantest (6857: Japan), Teradyne (TER: US), Onto Innovation (ONTO: US), Camtek (CAMT: Israel), ASE Technology (3711: Taiwan), Amkor Technology (AMKR: US). Directional impact and magnitude: Positive, high magnitude for advanced packaging equipment and HBM test vendors; positive, medium magnitude for OSATs with advanced packaging capacity. Near-term trading catalyst: Lam’s >50% advanced packaging growth expectation is a strong confirmation point for AI packaging capex. It should support near-term investor confidence in hybrid bonding, TSV, copper plating, inspection, and high-end test exposure. Longer-duration fundamental shift: Advanced packaging is becoming a core scaling vector, not a secondary back-end process. As AI accelerators, HBM, and chiplets become more complex, package-level process equipment and test intensity should rise structurally. Transmission mechanism: AI accelerators require HBM integration, high-bandwidth interconnect, chiplet assembly, and yield-sensitive package architectures. Packaging equipment vendors benefit from higher capex intensity, while test vendors benefit from more complex devices, higher pin counts, longer test times, and greater known-good-die requirements. OSATs benefit from demand for advanced packaging capacity, though capex requirements may pressure free cash flow. LEADING-EDGE FOUNDRY AND AI ACCELERATOR SUPPLY CHAIN: CAPACITY SIGNALS REMAIN STRONG INTO 2027 (READ-THROUGH 9) Call support: Foundry was 54% of Lam systems revenue, and foundry revenue dollars were approximately flat sequentially and up 35% year-over-year. Management stated that Lam is seeing “strengthened investments at the leading-edge as well as ongoing mature node spending.” Tim Archer also said there is “just not enough compute” and “not enough memory in the world.” Lam achieved its 1st dielectric etch wins at a key foundry/logic manufacturer. Affected companies: Taiwan Semiconductor Manufacturing Co. (2330: Taiwan), Samsung Electronics (005930: Korea), Intel (INTC: US), NVIDIA (NVDA: US), Advanced Micro Devices (AMD: US), Broadcom (AVGO: US), Marvell Technology (MRVL: US). Directional impact and magnitude: Positive, high magnitude for leading-edge foundries and AI accelerator suppliers. Positive, medium magnitude for Intel Foundry because the industry signal is favorable, but company-specific execution remains the dominant variable. Near-term trading catalyst: Lam’s comments support continued strong AI accelerator capacity demand and reduce the probability of a near-term foundry capex pause. Longer-duration fundamental shift: The AI compute supply chain remains capacity-constrained across logic, memory, and packaging. This supports sustained leading-edge foundry investment, higher semiconductor content, and more durable AI accelerator growth, provided end-market monetization remains intact. Transmission mechanism: AI accelerator designers require more wafer capacity, HBM supply, and advanced packaging capacity. Foundries benefit from sustained demand for leading-edge nodes. AI silicon vendors benefit if capacity growth allows higher shipment volumes. Equipment suppliers benefit from customer urgency and longer forward planning horizons.

@cobraalertsApr 22, 2026 · 6:45 PM

$LRCX earnings at close lotto size

@vulturetradesApr 22, 2026 · 5:23 PM

High Confidence 🚨 $LRCX 320 Call 5/1 at 1.10

@techfund1Apr 17, 2026 · 8:33 AM

Deutsche - "Semicap buyside expectations have reached extraordinary levels (consensus now ~$170b+ WFE in 2027)" I'm still long $ASML, but closed $LRCX. Thinking what to do with $BESI here after a strong run. Still like the long term opportunity in hybrid bonding, but valuation has gotten punchy

@yasutaketinApr 14, 2026 · 4:24 AM

$LRCX 高値ブレイクしてるキリがないから $SOXL にしてまとめて買ってる https://t.co/1EMCNJ4iCA

@vulturetradesApr 10, 2026 · 6:17 PM

$LRCX and $WDC want to rip face

@cobraalertsApr 10, 2026 · 6:11 PM

$LRCX 300 CALL 4/17 @ 1.30 🐍🚨

@jukan05Mar 13, 2026 · 11:54 AM

Lam Research: "DRAM Architecture Evolving from 4F² to 3D" DRAM memory is expected to evolve from its current planar structure to 3D DRAM, driven by the need to overcome the limits of miniaturization. Doug Bettinger, CFO of Lam Research, said at a recent Morgan Stanley Media Conference: "As we've emphasized for some time, semiconductor architectures are largely evolving in the 3D direction. DRAM will transition from 6F² to 4F², and ultimately evolve into 3D DRAM." F refers to the minimum feature size achievable in a given semiconductor manufacturing process, and F² (F-square) denotes the cell area defined by that feature size. In the 6F² structure, a single cell is rectangular at 3F × 2F, whereas in the 4F² structure, the cell is square at 2F × 2F. The transition from 6F² to 4F² reduces cell area, which is known to improve wafer-level chip productivity by approximately 20%. For this reason, major DRAM manufacturers such as Samsung Electronics and SK Hynix are developing 4F² DRAM with a vertical transistor structure as their next-generation product. The planned approach involves bonding a cell array wafer — which stores data — with a peripheral circuit (peri) wafer via hybrid bonding. The 3D DRAM that Bettinger referenced represents a further step beyond this. It involves vertically stacking multiple cell layers of the 4F² DRAM structure, analogous to 3D NAND, which stacks flash memory cells. This enables higher density per unit area. The physical limits of scaling in conventional planar (2D) semiconductor structures are well established, and following NAND, DRAM has now also committed to a 3D architecture for vertical integration. Lam Research expects the 4F² structure to be commercially adopted one to two process nodes from now. Over this transition, the company projects its serviceable addressable market (SAM) to expand by 1.7x to 1.8x, as 3D stacking requires high-aspect-ratio etch equipment to drill through-silicon vias (TSVs) and electroplating equipment to fill TSVs with copper. Bettinger noted: "When 3D NAND was introduced, Lam Research's revenue doubled. We expect a similar revenue opportunity with DRAM." The company has launched a new etch system, Akara, which is specifically designed for 4F² and 3D DRAM processes. It also offers Syndion, an etch system for TSV processing, and Sabre 3D, an electroplating system. Lam Research forecasts the front-end equipment market to grow 23% this year. To meet customer demand, the company is expanding production capacity at facilities including its Malaysia plant. That said, the current industry constraint is not equipment production capacity per se, but rather a shortage of cleanroom space. This bottleneck is carrying over equipment demand into next year, with high performance expected to continue. Lam Research has recently been pursuing its "Beyond NAND" strategy, which centers on diversifying its product portfolio beyond memory equipment into foundry, logic, and advanced packaging equipment. Last year, foundry and logic revenue accounted for approximately 59% of total revenue — a reversal from 2022, when memory represented 60% of total equipment sales. The Akara, Syndion, and Sabre 3D systems for 3D DRAM manufacturing are all part of this diversification strategy. The company has also entered the track equipment market for lithography processes for the first time. Bettinger stated that "new dry photoresist (PR) technology equipment has been deployed and is now running in the actual production lines of our largest DRAM customer." Lam Research uses its deposition technology to form the photoresist on wafers, offering higher productivity compared to conventional wet chemical methods. The company expects the new equipment to generate cumulative new revenue of $1.5 billion over the next five years. $LRCX

@tradexwhispererMar 11, 2026 · 6:05 AM

$MU Memory: The New Growth Goldmine for Toolmakers According to $AMAT earnings report, in 1QFY26, 4QFY25, DRAM contributed to 34% of its total semiconductor systems sales, rising from 28% in 4QFY25. Applied Materials highlighted its fastest-growing markets: in DRAM, 4F² and 3D DRAM lead the surge; in Advanced Packaging, HBM, hybrid bonding, and panel substrates are driving momentum. NAND growth comes from higher layer counts and tech transitions, while ICAPS focuses on compound semiconductors (SiC, GaN) and photonics, the company said. $LRCX

@ivanaspearFeb 4, 2026 · 8:23 PM

There are not many days in the year where you see high quality (60%+ GM) businesses pull back 10%+ If you missed semi-cap in 4Q25, here is your entry point $ASML $KLA $LRCX Loved talking software, semi-cap and space with @cvpayne earlier today https://t.co/o3Vv9M7zmS

@yasutaketinJan 30, 2026 · 4:43 AM

例えば好決算の $LRCX の予想PER42倍は「まだ行ける」なのか「もう高い」なのか。自分ならここからの上昇は「捨てていい」と思う。例えば $BHP なら予想PER14.5倍で、ドル安と銅・鉄の価格上昇が追い風になる。

@thevalueistJan 29, 2026 · 2:40 AM

$LRCX $MU $SNDK HBM, DRAM AND NAND: DEMAND SIGNALS, CUSTOMER BEHAVIOR, AND SUPPLY TIGHTNESS The LRCX call characterized HBM and broader DRAM spending as one of the clearest expressions of the AI-driven demand environment, with demand described as accelerating while industry output is constrained primarily by cleanroom availability rather than end-demand limitations. The CEO framed 2026 WFE at roughly $135B, with growth “remaining constrained by a shortage of available cleanroom space,” and explicitly described “sold-out conditions persisting,” which implicitly extends to the memory build-out given the emphasis on DRAM and HBM as leading growth vectors. The CFO reinforced that the constraint is structural enough to support another strong year beyond 2026, stating, “I think it sets up for ’27 to also be a pretty good year,” and connected that to multi-year agreements and sold-out supply conditions. Within memory specifically, the call implied a prioritization behavior at customers that reflects relative profitability and near-term AI demand urgency. The CFO stated, “what I observed the memory customers doing… is prioritizing DRAM over NAND a little bit because profitability there somewhat better,” which signaled that, under constrained cleanroom and capex bandwidth, DRAM (and by extension HBM) is taking precedence. The call also connected next-generation HBM directly to the cleanroom constraint narrative in a technically grounded way. In response to a question on HBM4 and 16-high stacking, the CEO stated that as HBM generations advance, “you end-up going to next-generation HBM, become bigger and that’s generally what is creating the majority of the problem relative to… cleanroom space constraints,” adding that “you need more cleanroom space and more tooling per fit that comes out of the fab.” This is an explicit linkage between HBM roadmap complexity and higher equipment intensity per unit output, implying that even if wafer starts are constrained, equipment dollars per effective bit output can still rise, and tool demand remains supported by technology-driven intensity. DRAM PERFORMANCE THIS QUARTER AND NEAR-TERM TRAJECTORY The December quarter showed a material DRAM mix step-up within Lam’s systems revenue, which is the most direct in-quarter quantification of DRAM momentum disclosed on the call. Management stated, “Within memory, we generated record DRAM revenue accounting for 23% of systems revenue, which was up from 16% in the September quarter.” Memory overall was “34% of systems revenue in line with prior quarter,” implying that the DRAM outperformance occurred alongside a corresponding NAND mix reduction (NAND at 11% vs 18% prior quarter). This mix shift is consistent with the customer prioritization dynamic described above and supports the inference that DRAM node migrations and HBM-related investments were absorbing a larger share of constrained spending in the period. Using only the numbers disclosed on the call, an approximate dollarization of this DRAM inflection can be derived, with explicit caveats. The CFO stated CSBG revenue was approximately $2.0B, while total revenue was $5.34B. This implies non-CSBG revenue of roughly $3.34B, which is a proxy for systems and other revenue combined. If systems revenue is assumed to be close to that remainder for directional purposes, then DRAM at 23% of systems revenue would imply an approximate DRAM systems revenue contribution on the order of $0.7B to $0.8B for the quarter, versus roughly $0.5B to $0.6B using the prior-quarter 16% mix assumption on a similar systems base. The key takeaway is not the precision of the dollar figure but the magnitude of the mix swing and the confirmation of “record DRAM revenue” in the quarter. Management explicitly identified the DRAM investment drivers behind this quarter’s strength: “Investments in high-bandwidth memory continued to remain strong driven by movement to HBM3E and 4.” In parallel, DRAM strength was not positioned as solely HBM-driven; it was also attributed to conventional DRAM node evolution: “We also saw traditional node migrations to the 1B and 1C nodes, enabling the transition to DDR5.” This pairing matters because it broadens the driver set from a narrow HBM surge to a more comprehensive DRAM technology cycle where both high-end AI memory and mainstream platform transitions are contributing. HBM ROADMAP DISCLOSURES AND IMPLICATIONS FOR TOOL INTENSITY The call made several HBM roadmap statements, with 3 elements that matter for equipment content and timing. HBM generation transition sequencing and urgency The CFO explicitly referenced current momentum: “movement to HBM3E and 4,” signaling that HBM3E is still in ramp and HBM4 is entering the planning-to-early adoption phase. Separately, in the context of packaging, the CEO referenced “the transition to HBM4 and 4E,” which placed HBM4E on the roadmap horizon and indicated that Lam is positioning product content for both HBM4 and its subsequent extension. Stacking complexity and packaging dependency The CEO stated advanced packaging is “critical” for HBM evolution, describing “stacking of up to 16 layers.” The specificity of “up to 16 layers” is an important signal: it implies materially higher interconnect density, thermal and mechanical challenges, and typically higher TSV and interposer-related process complexity. For Lam, this is relevant because the call asserted leadership in enabling steps: “Lam is in an excellent position given our market leadership in electroplating and TSV etch.” Cleanroom intensity as an explicit constraint amplifier The CEO’s comment that next-gen HBM “become bigger” and requires “more cleanroom space and more tooling per fit” implies that the industry constraint is not just physical fabs but also the process complexity per output unit. This has 2 second-order implications: (a) equipment demand can remain elevated even under capacity constraints because intensity rises; (b) memory suppliers may allocate scarce space to higher-value HBM outputs, reinforcing DRAM prioritization versus NAND. DRAM ROADMAP: NODE TRANSITIONS, 4F SQUARED, AND PROCESS COMPLEXITY DRAM roadmap commentary extended beyond near-term nodes into longer-term architectural transitions, with Akara positioned as a foundational enabler. Near-term node transitions The CFO referenced migrations to “1B and 1C” nodes and tied them to DDR5. The CEO later reinforced a ramp implication for Lam content: “In DRAM, we already have wins with Akara for the 1C node that are set to ramp this year.” This indicates both design-win validation and a timing expectation for revenue conversion in 2026. Medium-term node scaling and application expansion The CEO projected a meaningful expansion in Akara applicability in DRAM beyond 1C: “expect growing momentum as the applications using Akara expand nearly 3 times in the subsequent 1D node.” This statement implies that Lam expects not just tool placements but expanding process step penetration per node, which is the core mechanism for share gain and content growth in memory etch. Longer-term architectural transition to 4F squared In response to a question about timing of 4F squared adoption from 6F squared, the CEO stated: “customers have talked about it being something towards the end of the decade, probably full volume production.” The call also described continued engagement: “we’re engaged today with customers looking at the technical needs.” The same response connected 4F squared to the same capability set relevant for other advanced transitions: “Akara is very well-suited to… 4F squared… whether it’s future gate-all-around or even as foundry logic moves to CFET.” The call suggested that 4F squared is likely to align with later waves of fab openings: “technology transitions occurring after… this next big wave of fab openings,” implying that the most material 4F squared volume impact is not expected in the immediate 2026–2027 window, but that tool and process qualification work is active now. The technical framing of DRAM complexity was explicit. The CEO stated: “in DRAM, aspect ratios are increasing with each node and process complexity is set to grow even more with future moves to 4F squared in 3D DRAM.” Separately, he referenced broader scaling: “Critical dimensions in foundry logic are shrinking by roughly 10% to 20% node-to-node. Similarly, in DRAM, aspect ratios are increasing with each node.” This aligns DRAM process demands with high-aspect-ratio etch needs, directly matching Lam’s etch focus. LAM PRODUCTS AND POSITIONING SPECIFIC TO HBM AND DRAM Akara conductor etch as the primary DRAM/HBM scaling enabler discussed Akara received the most detailed product commentary on the call and was explicitly tied to advanced DRAM and, by extension, HBM build requirements. Installed base momentum and customer validation The CEO stated: “Akara… has doubled its installed base over the past year with production tool of record wins for EUV and high-aspect ratio etch applications in advanced DRAM and foundry logic.” This is a strong commercial validation statement, indicating both increased deployment and qualification at critical layers. Differentiation claims Akara was positioned to etch “the smallest dimensions at very high aspect ratios, while maintaining profile control and reducing variability across the wafer.” The CEO attributed this to “direct drive solid-state power delivery hardware and tempo plasma pulsing.” These are presented as technology differentiators aimed at the exact DRAM scaling pain points (feature fidelity, variability control, aspect ratio). Forward applicability expansion Akara’s relevance was stated to broaden across device transitions: “In next-generation gate-all-around devices… applications using Akara to grow by roughly 2 times,” and in DRAM, 1C ramps and 1D expands “nearly 3 times.” While not an HBM-exclusive statement, the DRAM emphasis and the link to high-aspect-ratio etch are directly aligned with HBM DRAM die scaling and TSV-related needs. Advanced packaging product content supporting HBM evolution Although advanced packaging is not DRAM wafer processing per se, the call repeatedly treated HBM as inseparable from packaging in the HBM4/HBM4E era. Lam’s claimed leadership areas were “electroplating and TSV etch,” and the CEO described these as key to “stacking of up to 16 layers.” This suggests Lam expects packaging-related revenue growth to be tightly coupled with HBM roadmaps and that a portion of HBM-driven capex will manifest through packaging tool demand, not only through DRAM fab tool demand. NAND: DEMAND DRIVERS, CUSTOMER BEHAVIOR, AND SUPPLY TIGHTNESS The call characterized NAND as transitioning from a near-term digestion and prioritization phase to a renewed growth phase driven by AI-related use cases and accelerated upgrade cycles. The CFO stated NAND systems revenue was 11% of systems in the quarter, “down from 18% in September quarter,” and described this trajectory as “in line with our expectations for customer plans coming into the year.” This was framed as a predictable intra-year pattern in 2025 rather than a deterioration in fundamentals: “Despite the quarterly decline, NAND revenues grew strongly for Lam in what was a first-half weighted calendar year 2025.” The most important incremental NAND demand statement on the call was that demand is “growing faster than previously expected,” with an explicit link to AI inference. The CEO stated: “In NAND, demand is growing faster than previously expected as new use cases for high-capacity SSDs emerge.” He then described a specific mechanism: “Non-volatile context memory layers that enable large-scale AI inference have the potential to add incremental growth in NAND bit demand.” The call also introduced a quantitative sensitivity: “For every 2M to 3M accelerators sold, we estimate an incremental 1 point increase in overall NAND bit demand growth.” This is a direct linkage between accelerator shipment trajectories and NAND bit growth that extends beyond traditional storage refresh drivers. NAND supply tightness and investment constraints were framed as a function of the same cleanroom constraints affecting the broader industry. Management consistently stated that upgrades precede greenfield additions under constrained space. The CFO stated, “we’re still sticking by… upgrades happen before real capacity additions,” and, when asked about the pivot to greenfield NAND, said constrained cleanroom makes it “probably… ’27, ’28, when cleanroom space is sufficiently available such that they can invest in additional NAND capacity in a big way.” This indicates that even with improved demand signals, NAND supply response may be staged: near-term bit growth from upgrades and technology transitions, followed by later greenfield capacity once space constraints ease. CUSTOMERS: WHAT WAS SAID, WHAT WAS IMPLIED, AND WHAT WAS NOT DISCLOSED The call referenced customer behavior patterns and customer actions without naming specific customers. Several customer-related items were explicit: Customer prioritization decisions The CFO described memory customers prioritizing DRAM over NAND due to relative profitability. This implies that the customer set includes players with both NAND and DRAM portfolios and that internal allocation decisions are actively shaping equipment demand. Customer capacity announcements for NAND The CFO stated: “one of our largest customers announced a new fab… heavily emphasizing NAND capacity.” This is a concrete signal that at least 1 major NAND-capable customer is moving beyond upgrades toward capacity expansion planning, even if meaningful tool pull is expected later due to space constraints. Customer pull-in behavior under supply tightness The CEO stated “every customer is asking for pull-ins,” and described expedited requests “well within our normal lead times,” suggesting that tool demand is attempting to move earlier than customer readiness allows. This is consistent with a supply-constrained end market where customers are trying to secure tools as soon as any space becomes available. Customer adoption decisions for moly ALD in NAND Management stated that “the customers that have committed to production of moly… in NAND have gone with Lam’s tools.” This is a high-confidence statement about competitive positioning and tool-of-record outcomes in an early inflection step relevant to advanced NAND process stacks. ROADMAP AND PRODUCT EVOLUTION IN NAND: UPGRADES, LAYER COUNTS, AND MOLY ALD Upgrade cycle acceleration and the $40B framework The call revisited the prior Investor Day framework that Lam has described as an approximately $40B installed base upgrade opportunity in NAND over several years. Management stated that the $40B is “likely happens quicker than what we originally expected a year ago,” and reiterated that the pace is “faster-than-expected.” The CEO indicated a formal refresh of the figure may come later: “we might wait until a little later in the year to refresh that number,” while also stating, “we’ve now… said that seems to be happening faster-than-expected.” This combination implies that upgrade demand has exceeded the company’s prior internal pacing assumptions, but management has not yet quantified the realized portion versus remaining opportunity. Timing and shape of NAND through 2026 On cadence, the CFO indicated NAND may be “a little bit second half weighted,” which aligns with broader 2H-weighted industry spending and potentially with customer readiness and cleanroom availability. Importantly, the call did not indicate a flat or declining 2026 NAND outlook; it explicitly stated, “as we sit here looking in 2026, it will be a growth year for NAND.” New use case expansion and implications for longer-term NAND roadmap In response to a question about expanded data center applications, the CEO stated: “I think we characterize it as a new use case. So, I don’t think we saw this particular use case coming, which is related to the AI inference…” and explicitly noted that prior estimates were “more… traditional storage… enterprise SSDs.” The key implication is that the longer-term NAND roadmap is being re-anchored to incremental AI-inference architectures that increase the need for high-capacity, high-performance NAND storage closer to compute, potentially changing both the magnitude and duration of NAND capex cycles. Moly ALD adoption and tool strategy The call contained a direct discussion of moly ALD process adoption sequencing and competitive dynamics. Adoption order and market expansion The CEO stated: “in kind of the order of adoption, NAND would be first to adopt Moly… followed by foundry logic and then ultimately by DRAM.” This sequencing implies NAND is the lead market for moly ALD tool deployment and installed base accumulation, with downstream optionality into logic and DRAM over time. Tool-of-record positioning and competitive moat building Management emphasized that customers committed to moly in NAND selected Lam’s tools and that this creates learning curve and installed base advantages: “throughout these first production ramps with ALD, we are building the installed base… maturing the tool… getting process learning.” This is an explicit strategic rationale for why early production wins matter beyond the initial revenue, implying potential stickiness and higher switching costs as the process matures. Rejection of a shift to alternative ALD approaches In response to a question about movement “away from single-wafer ALD to battery ALD for Moly,” the CEO responded, “No,” and clarified that while it is called “single,” the chamber has “multiple stations inside of one chamber in order to give ourselves a high productivity.” He concluded: “that’s a production tool… today for the industry, and we intend to continue to keep it that way.” This is a direct statement that Lam views its current moly ALD architecture as production-grade and does not expect a near-term technology displacement in that specific modality, at least in the context discussed. PRODUCTS AND PROCESS STEPS TIED TO NAND AND HBM: WHAT WAS EXPLICITLY LINKED Advanced packaging steps linked to HBM and broader AI infrastructure Management linked electroplating and TSV etch to HBM4/HBM4E and 16-high stacking. These steps are core to TSV formation and interconnect metallurgy, which are central to stacked memory performance and yield. The call also implied that advanced packaging is expanding across device categories, which supports the interpretation that packaging capacity and process tools become a broader bottleneck and spend area as memory and logic packaging complexity rises. Etch and deposition intensity as the common denominator across DRAM and NAND transitions The CEO repeatedly emphasized “higher deposition and etch intensity,” and positioned Lam’s “deposition and etch capabilities” as key enablers for the transition set, including GAA and packaging. While not every deposition product was discussed in memory context, the strategic frame implies that memory node transitions and layer count increases structurally increase etch/deposition steps per wafer and per output unit. SUPPLY TIGHTNESS AND END DEMAND: HOW MANAGEMENT CONNECTED THE CHAIN FROM AI TO MEMORY SPEND End demand characterization The call repeatedly positioned AI as the primary macro driver, with “strong appetite for greater compute and storage capability at both the device and package level.” For memory specifically, HBM was framed as a direct beneficiary of AI compute expansion, while NAND was framed as gaining incremental demand from AI inference storage architecture, including “non-volatile context memory layers.” Supply tightness characterization Supply tightness was framed as cleanroom capacity constraints and sold-out industry conditions, with the constraint persisting even as customers pursue fab announcements that are “capacity in ’27, ’28 and beyond.” Management’s framing implies that supply tightness is not a short-duration transient but a multi-year gating factor, with near-term demand being expressed through pull-ins, upgrades, and technology transitions that boost output per constrained space. Memory-specific amplification of tightness For DRAM and HBM, the CEO explicitly stated that next-gen HBM being “bigger” creates “the majority of the problem” in cleanroom constraints, because it requires “more cleanroom space and more tooling per fit.” For NAND, the tightness manifests in staged investment (upgrades first, greenfield later) due to cleanroom trade-offs among DRAM, NAND, and packaging under constrained conditions. INVESTMENT TAKEAWAYS SPECIFIC TO HBM, DRAM, AND NAND DRAM and HBM were positioned as immediate-cycle leaders under constrained capex allocation, supported by both HBM generation ramps (HBM3E, HBM4) and broader node migrations (1B, 1C) tied to DDR5. The quarter’s DRAM mix step-up to 23% of systems revenue, described as record DRAM revenue, is consistent with this. The HBM roadmap was explicitly framed as increasing tool intensity per output and worsening cleanroom constraints, which can be favorable for WFE demand persistence even if wafer start growth is limited. The explicit statement that next-gen HBM “become bigger” and requires “more tooling per fit” suggests that HBM-driven WFE is not purely a volume story; it is an intensity story. NAND was framed as a 2026 growth market despite a sequential decline this quarter, with the strongest incremental positive being the identification of a new AI inference-driven demand vector and a quantitative accelerator-to-NAND sensitivity (2M to 3M accelerators adding 1 point to NAND bit growth). This introduces a pathway for NAND demand to decouple upward from traditional storage refresh cycles. NAND near-term spend is expected to be upgrade-led, with greenfield expansion deferred to 2027–2028 when cleanroom availability improves. This implies Lam’s NAND revenue in the nearer term is more levered to upgrade content per tool and per installed base, rather than broad greenfield capacity waves. Product positioning commentary suggested Lam is attempting to lock in tool-of-record and process-learning advantages in memory inflections. Akara was positioned as a foundational high-aspect-ratio etch platform with expanding application breadth into DRAM nodes (1C ramp, 1D expansion) and beyond. Moly ALD was positioned as already won in early NAND production commitments, with management explicitly rejecting a shift away from its current architecture and emphasizing installed base and process-learning advantages. Customer behavior signals emphasized prioritization and pull-ins rather than cancellations, with “every customer… asking for pull-ins,” implying demand pressure remains strong even as timing is gated by infrastructure. For memory, this indicates continued pressure to accelerate HBM/DRAM build-outs and to advance NAND upgrades that increase output per constrained space. If further deepening is required, the most decision-relevant follow-ups implied by management commentary are: the magnitude and composition of DRAM strength attributable to HBM versus conventional DDR5 node transitions; the revenue sensitivity to HBM4/HBM4E packaging steps (electroplating, TSV etch) relative to DRAM fab steps; the realized-to-date portion of the $40B NAND upgrade framework; and whether the AI inference NAND use case changes customers’ long-term capex mix between NAND upgrades and eventual greenfield additions once cleanroom constraints ease.

@ivanaspearJan 28, 2026 · 11:59 PM

$LRCX Beat and a nice guide bump, but what gave the stock legs AH was this comment: "We have better visibility into the following year than I think I can ever remember". Other interesting tidbits were: - Expect the WFE market to go from $110B to $135B. Math suggests that it should be close to $150B, but mgmt highlighted capacity constraints due to clean room space - Growth will be 2H weighted - sounded like growth will accelerate each quarter - Expects to gain share in '26 => 23% market growth + share gains = numbers need to go higher. Revenue breakdown👇

@thevalueistJan 28, 2026 · 9:35 PM

$LRCX (Bloomberg) -- Lam Research forecast adjusted earnings per share for the third quarter; the guidance beat the average analyst estimate. THIRD QUARTER FORECAST Sees adjusted EPS $1.25 to $1.45, estimate $1.21 (Bloomberg Consensus) Sees revenue $5.4 billion to $6 billion, estimate $5.35 billion Sees adjusted gross margin 48% to 50%, estimate 48.6% SECOND QUARTER RESULTS Adjusted EPS $1.27, estimate $1.17 Revenue $5.34 billion, +22% y/y, estimate $5.24 billionSystems revenue $3.36 billion, +28% y/y, estimate $3.48 billion Customer support-related revenue and other $1.99 billion, +14% y/y, estimate $1.77 billion Adjusted gross margin 49.7% vs. 47.5% y/y, estimate 48.6% Adjusted operating margin 34.3% vs. 30.7% y/y, estimate 32.9% Capital expenditure $260.9 million, +39% y/y, estimate $168.4 million

@kaizen_investorJan 28, 2026 · 9:27 PM

$LRCX just reported a Q4 double beat. The stock is up 1% as a result. Lam Research delivered a resilient quarter that points to an upcoming recovery. While current revenue remained flat at $5.34 billion, the company provided a strong outlook, forecasting sales to rise to $5.7 billion next quarter. A crucial shift is happening in their market mix: reliance on China has stabilized at 35%, while their service and support business surged, helping offset a temporary decline in new equipment sales. The driving force remains Artificial Intelligence. Management emphasized that AI is fueling demand for complex 3D chips, prompting faster production ramps. Despite slightly tighter profit margins, the company showed immense confidence by returning over $1.7 billion to investors via buybacks and dividends, signaling they expect a robust 2026.

@jukan05Jan 27, 2026 · 3:12 AM

Ultimately, memory makers have no choice but to expand capacity, and that will keep the memory industry cyclical. That said, it doesn’t mean memory stocks will fall right away. Micron’s Singapore NAND fab won’t come online until 2028, so it doesn’t undermine the view that the supercycle should continue to benefit the industry throughout 2027—and at least all of 2026. If timing the cycle feels daunting, buy semicap instead. Among semicap names, $LRCX has the highest NAND exposure.

@yasutaketinJan 15, 2026 · 10:41 AM

昨日 $SOXL 買っといて大正解だったな $MU $LRCX もプレ高いわ TSMCの設備投資見通し好調でチップ製造装置株が急騰 https://t.co/bFQ20mFhvq

@thevalueistJan 14, 2026 · 8:59 PM

$LRCX Lam Research: Strategic Growth, AI Intensity, Executive Analysis, and Investment Thesis.

@yasutaketinJan 11, 2026 · 12:13 AM

最大の恩恵銘柄は $LRCX ラムリサーチかもしれないね。メモリー増産で各社装置を買うから。マイクロンは増益すごいけど工場の新設が必要でFCF自体は多くはない。 https://t.co/kuFmkO9Bac

@techfund1Dec 29, 2025 · 8:53 AM

UBS bull thesis on Semicap for '26 - $LRCX $AMAT https://t.co/bROFlpS14q

@yasutaketinDec 26, 2025 · 11:29 AM

$LRCX ・結論：$LRCX（ラムリサーチ）の上昇は、メモリー供給不足「そのもの」ではなく、それに伴う設備投資（WFE）回復期待が本質・AI需要でDRAM/NAND、特にHBMがタイト化 → メモリ価格が上昇・価格上昇＝メモリメーカー（Samsung / Micron / SK hynix）の増産インセンティブ復活・増産にはエッチング・成膜工程が不可欠 → Lamの主戦場・市場は「需給不足 → CapEx再加速 → 装置受注増」を先読み・つまり $LRCX はメモリー市況の“結果”ではなく“次の投資サイクル”に賭けた上昇

@rwang07Oct 22, 2025 · 9:30 PM

$LRCX: But I guess I would just say that, you know, you have to remember that as fabs get built and equipment is brought in, there often are timing issues. And so it's a little bit hard to to speak to any near-term. Like outperformance underperformance with certainty because it depends on what other what other suppliers are going to be doing. And when they're shipping what their lead times are. But what we can say with quite a bit of confidence, and I think we laid it out at our Investor Day earlier this year, is that over the longer term? $LRCX markets etch and deposition will outgrow WFR because of nearly every trend that's taking place. Technology wise in semiconductor manufacturing. Whether that's 3D devices in foundry logic, in Nand, whether it's smaller, higher aspect ratio devices, and stacking using advanced packaging and Dram, whether it's advanced packaging itself. They are all deposition and etch intensive products, and therefore, I think over the longer term, confidence to outperform is very high.