Wells Fargo Raises its Price Target on Lam Research (LRCX)

Lam Research Corporation (NASDAQ:LRCX) is one of the 10 All-Time High Stocks with Legs to Rally Further.

On June 22, 2026, Wells Fargo analyst Joe Quatrochi raised the firm’s price target on Lam Research Corporation (NASDAQ:LRCX) to $450 from $365 and maintained an Overweight rating. Wells Fargo expects semiconductor capital equipment companies to continue reporting positive Q2 results.

On June 17, Citi raised its price target on Lam Research Corporation (NASDAQ:LRCX) to $450 from $315 and maintained a Buy rating. The firm updated its semiconductor equipment targets to reflect a revised wafer fab equipment bull case and a shift to 2028 earnings estimates. Citi is bullish on NAND equipment demand and said the “widening gap” between required DRAM and available supply should support the adoption of complementary solutions.

Taiwan Semiconductor Manufacturing Company (TSM) Does Not Rule Out Price Rises as Costs Increase

On June 15, Oppenheimer raised its price target on Lam Research Corporation (NASDAQ:LRCX) to $400 from $330 and maintained an Outperform rating. Following a meeting with Lam executive Ram Ganesh, the firm said the AI-driven wafer fab equipment upside is not yet fully reflected in estimates. Oppenheimer believes there is still room for demand upside in 2026 despite clean-room constraints and “pretty full” delivery slots. Oppenheimer added that the outlook for 2027 appeared stronger, potentially supporting wafer fab equipment market growth of more than 30% toward $200B as customers become better positioned to accept deliveries.

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

While we acknowledge the risk and potential of LRCX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than LRCX and that has 10,000% upside potential, check out our report about the cheapest AI stock.

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