Lam Research: $140B WFE, $725B In Hyperscaler Capex, And Still Raising -- BUY

Lam Research (LRCX) maintains its Buy rating as upgraded WFE and advanced packaging outlooks reinforce a robust investment case. LRCX delivered its eleventh consecutive quarter of growth, beating revenue and EPS estimates, and raised its CY2026 WFE forecast to $140B. Customer Support Business Group revenue surpassed $2B, benefiting from Lam's large install base and margin-accretive, counter-cyclical characteristics.