Assessing Lam Research (LRCX) Valuation After AI Demand Boost And Citi Large Cap Recommendation

Simply Wall St.01-05

Lam Research (LRCX) is back in focus after its shares hit an all time high, following inclusion in Citi's Large Cap Recommended list for 2026, alongside upbeat commentary on AI driven chip equipment ...

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(LRCX) Valuation After AI Demand Boost And Citi Large Cap Recommendation\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-01-05 22:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://simplywall.st/stocks/us/semiconductors/nasdaq-lrcx/lam-research/news/assessing-lam-research-lrcx-valuation-after-ai-demand-boost><strong>Simply Wall St.</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Lam Research (LRCX) is back in focus after its shares hit an all time high, following inclusion in Citi's Large Cap Recommended list for 2026, alongside upbeat commentary on AI driven chip equipment ...</p>\n\n<a href=\"https://simplywall.st/stocks/us/semiconductors/nasdaq-lrcx/lam-research/news/assessing-lam-research-lrcx-valuation-after-ai-demand-boost\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00BFSS7M15.SGD","symbol_name":"Janus Henderson Balanced A Acc 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See our latest analysis for Lam Research. Those AI driven headlines line up with what the price is already signaling, with a 30 day share price return of 16.61% and 90 day share price return of 31.86%, while the 1 year total shareholder return of 139.49% suggests strong momentum that has been building rather than fading. If Lam Research’s AI story has caught your eye, it could be worth broadening your watchlist to other chip related names using our high growth tech and AI stocks. With Lam trading above Citi’s price target and an intrinsic value estimate, yet still posting double digit revenue and net income growth, the key question is whether this reflects froth in the market or a rational pricing of future growth. AdvertisementMost Popular Narrative: 15% Overvalued With Lam Research last closing at US$185.06 against a fair value estimate of US$160.30, the most followed narrative sees the share price already ahead of its calculation, and leans heavily on AI driven WFE demand and profitability to justify that stance. Lam's leadership in new process technologies, such as ALD Moly for metal deposition and advanced packaging solutions (SABRE 3D systems), positions the company to capture an increasing share of spend on next-generation chip manufacturing, leading to market share gains, higher average selling prices, and expanding gross margins over the long term. Read the complete narrative. Curious what kind of revenue growth, margin profile, and earnings multiple need to hold together for that view to make sense? The narrative pins its fair value on a specific earnings path, a steady but not explosive profit expansion, and a premium P/E that still sits below a broad sector benchmark. The full write up lays out how those moving parts translate into today’s estimate. Result: Fair Value of $160.30 (OVERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, that story can crack if geopolitical tensions, especially around China, hit orders or if key customers pull back on wafer fab equipment spending sooner than bulls expect. Find out about the key risks to this Lam Research narrative.  Build Your Own Lam Research Narrative If your view of Lam’s future looks different, you can stress test the same data and sketch out your own narrative in minutes, starting with Do it your way. A great starting point for your Lam Research research is our analysis highlighting 2 key rewards and 1 important warning sign that could impact your investment decision. Looking for more investment ideas? If you are serious about building a stronger portfolio, do not stop at one stock. Use the screener to quickly spot other ideas that fit your style.  Target potential value opportunities by scanning these 870 undervalued stocks based on cash flows that line up with your preferred quality and pricing filters. Ride the AI hardware and software trend by checking out these 25 AI penny stocks that could complement a position in chip equipment names. Add a different source of income potential by reviewing these 14 dividend stocks with yields > 3% that already offer yields above 3%.   This article by Simply Wall St is general in nature. We provide commentary based on historical data\n    and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your\n    financial situation. We aim to bring you long-term focused analysis driven by fundamental data.\n    Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.\n    Simply Wall St has no position in any stocks mentioned.New: AI Stock Screener & AlertsOur new AI Stock Screener scans the market every day to uncover opportunities.• Dividend Powerhouses (3%+ Yield)• Undervalued Small Caps with Insider Buying• High growth Tech and AI CompaniesOr build your own from over 50 metrics.Explore Now for FreeHave feedback on this article? Concerned about the content? Get in touch with us directly. 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