12 Most Profitable Growth Stocks to Buy According to Billionaires

8. Lam Research Corporation (NASDAQ:LRCX)

TTM Net Income as of August 4: $5.36 billion

Number of Hedge Fund Holders: 91

Dollar Value of Billionaire Holdings: $3.50 billion

Number of Billionaire Investors: 20

Lam Research Corporation (NASDAQ:LRCX) is one of the most profitable growth stocks to buy according to billionaires. On August 1, Argus Research raised its price target on Lam Research to $120 from $105, while maintaining a Buy rating on the shares. The firm noted that Lam Research topped consensus estimates for adjusted EPS and revenue, concluding a solid growth year in fiscal 2025 after a downturn in fiscal 2024. As of July, semiconductors remained exempt from tariffs.

In Q2 2025, Lam Research made a total revenue of $5.17 billion, which was a 33.6% year-over-year increase. This number surpassed market revenue expectations of $5.01 billion by 3.3%. Non-GAAP adjusted EPS was $1.33, which exceeded analyst consensus estimates of $1.21 by 10.3%. The operating margin for the quarter was 33.7%, up from 29.1% in the same quarter last year.

For Q3, Lam Research provided optimistic guidance, with projected revenue at $5.2 billion at the midpoint, which is 10.8% above analyst estimates of $4.69 billion. The adjusted EPS guidance for Q3 is $1.20 at the midpoint, exceeding analyst estimates of $1.00. This marks 5 consecutive quarters of growth for the company.

Lam Research Corporation (NASDAQ:LRCX) designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits.