What Do Analysts Say About Lam Research (LRCX)’s Earnings Outlook?

Showing strong hedge fund and Wall Street support, Lam Research Corporation (NASDAQ:LRCX) ranks among the best AI infrastructure stocks and carries an upside potential of 21.0% (street high). Wafer fab equipment demand is getting a significant rerating from Wall Street, and Lam Research is one of the clearest beneficiaries. Thus, analyst sentiment on Lam Research Corporation (NASDAQ:LRCX) remains strong as of June 1, 2026, with a street-high price target of $385 and 29 of 36 analysts maintaining bullish ratings.

What Do Analysts Say About Lam Research (LRCX)'s Earnings Outlook?

For illustration purposes only. Photo from Pixabay/Pexels

The most recent upgrade came on May 27, 2026, when Mizuho raised its price target on Lam Research Corporation (NASDAQ:LRCX) to $380 from $330 and kept an “Outperform” rating.

The firm lifted its wafer fab equipment spending estimate for 2026 to $153 billion from $142 billion, and for 2027 to $190 billion from $163 billion. Mizuho argued that current earnings estimates for Lam Research, Applied Materials, and MKS remain underestimated, with the wafer fab equipment space continuing to benefit from NAND node transitions, TSMC spending, and DRAM and high bandwidth memory pricing strength.

That followed a May 18, 2026, upgrade from Morgan Stanley, which moved Lam Research Corporation (NASDAQ:LRCX) to “Overweight” from “Equal Weight” with a price target of $331, up from $293. The firm said its DRAM wafer fab equipment revisions have narrowed and that it has grown more constructive on NAND revisions from here, citing confidence in Lam’s 2027 share gains.

Earlier, on May 12, 2026, B. Riley raised its price target to $385 from $350, maintaining a “Buy” rating. The firm cited faster-than-expected AI investment, with rising hyperscaler and neo-cloud demand driving sharply higher 2026 to 2028 capex estimates, and tightening supply-demand fundamentals supporting strong semiconductor earnings revisions.

Lam Research Corporation (NASDAQ:LRCX) supplies semiconductor manufacturing equipment and services globally.

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 this cheapest AI stock.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years.

Disclosure: None. Follow Insider Monkey on Google News.

1281292 - 11759070 - 1