Lam Research Corp
LRCX: XNAS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$57.00 | Qbqm | Ljrhnzfh |
Lam Is a Chip Equipment Titan With Strong Memory Exposure and a Wide Moat
Business Strategy and Outlook
Lam Research is one of the largest providers of wafer fabrication equipment for semiconductors, and we believe its strong portfolio, particularly for memory chip production, should enable it to maintain and increase its large market share. In our view, Lam will benefit from increasing chip complexity over the long term, including progress toward higher memory chip density and high-bandwidth memory. We expect Lam to increase sales in the midsingle digits over the course of market cycles and over the long term.