Lam Research Posts Biggest One-Day Gain In A Year After Q2 Earnings Beat: Retail Bullish On AI Outlook
Lam Research Q2 earnings beat and AI-driven demand bolstered outlook led to a slew of price hikes from Wall Street.
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Lam Research Corp. (LRCX) stock surged nearly 9% on Thursday, its biggest intraday gain in over a year after the semiconductor equipment maker posted a second-quarter earnings beat for fiscal 2025.
After Wednesday’s market close, Lam reported earnings per share of $0.91, topping analyst estimates of $0.88, according to Stocktwits data.
Revenue came in at $4.38 billion, beating Wall Street’s forecast of $4.32 billion.
The company expects revenue for the March quarter to land around $4.65 billion, plus or minus $300 million.
CEO Tim Archer said demand for higher chip performance continues to support Lam’s growth, reinforcing the company’s role in the AI supply chain and easing investor fears about overinvesting in AI-linked stocks.
His comments come as investors grapple with concerns over U.S. dominance in AI, especially after DeepSeek’s low-cost AI model from China rattled markets earlier this week.
Bernstein upgraded Lam Research to ‘Outperform’ from ‘Market Perform,’ raising its price target to $91 from $85.
The analyst highlighted a sharp recovery in NAND spending, which more than doubled quarter-over-quarter, hitting two-year highs.
Cantor Fitzgerald also upgraded the stock to ‘Overweight’ from ‘Neutral,’ lifting its price target to $100 from $95.
The brokerage had previously advised buying Lam below $70 but now believes the stock has further upside following its earnings beat.
Analysts at Cantor see Lam’s NAND strength and ties to Taiwan Semiconductor Manufacturing Co. (TSM) driving a 12% revenue increase in 2025, with EPS projected to hit $3.85.
Mizuho was among the few that took a more cautious stance, trimming its price target to $87 from $90 while maintaining an ‘Outperform’ rating.
While the brokerage acknowledged Lam’s solid NAND recovery and AI positioning, it noted some uncertainty ahead.
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On Stocktwits, retail sentiment around Lam Research remained in the ‘bullish’ zone, accompanied by ‘extremely high’ levels of chatter.
While many celebrated the rally, some users questioned whether the stock could sustain its gains.
Lam Research shares are up 12% year-to-date but have declined about 3% over the past 12 months, mainly due to weak China sales.
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