Lam Research: 30% Growth And Expanding Margins Make It A Solid Buy

Lam Research (LRCX) receives a Buy rating, driven by its technological moat in plasma dry etching for advanced memory manufacturing. AI infrastructure buildout and hyperscaler CapEx are fueling a memory super cycle, directly supporting LRCX's revenue growth and margin stability. Q3 revenues reached $5.84B (+24% YoY) with ~30% net margins; customer support segment hit a record $2B, enhancing recurring revenue visibility.