Lam Research Corporation (LRCX)’s WFE Opportunity May Be Bigger Than Expected

Lam Research Corporation (NASDAQ:LRCX) is among the stocks with the best earnings growth for the next 3 years. On June 15, Oppenheimer elevated the price target on Lam Research Corporation (NASDAQ:LRCX) to $400 from $330 and reaffirmed an Outperform rating. According to the firm, the Lam bus tour strengthened confidence that AI-related WFE growth potential remains underappreciated in forecasts.

Oppenheimer said that demand in 2026 could see further upside, despite cleanroom constraints and “pretty full” slots. This is in line with the third quarter’s WFE increase to over $140 billion with upside bias. The bigger story may be ahead, with 2027 appearing stronger as the firm sees potential for WFE growth to surpass 30% toward $200 billion. With this potential, LRCX is among the stocks with the best earnings growth for the next 3 years.

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Several other analysts have revisited their stance on Lam Research Corporation (NASDAQ:LRCX). On June 11, Tom O’Malley from Barclays boosted the price target on the company to $335 from $275 and reiterated an Overweight rating. According to the firm, the capex cycle is “much stronger across the board.” Although the “world has moved to 2028 already,” over $200 billion in sales looks probable in the upcoming year. A day earlier, Cantor Fitzgerald analyst C.J. Muse also lifted the price target on the company from $320 to $425 and maintained an Overweight rating.

Lam Research Corporation (NASDAQ:LRCX), founded in 1980, is a California-based company specializing in semiconductor processing equipment used in the fabrication of integrated circuits.

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