Coverage summary
Aardvark Labs Capital Research has covered Lam Research Corporation (LRCX) since July 31, 2025. The company is in the Technology sector. This page lists 6 reports: 6 earnings recaps.
The latest is the Q1 FY27 Earnings Recap, published October 22, 2026. The current rating is Outperform, unchanged since the Q1 FY26 Earnings Recap of October 23, 2025. The rating has changed once since coverage began.
Translations: 5 in Chinese.
The Excel model for LRCX holds 20 quarters and 5 fiscal years of history and 8 quarters and 5 fiscal years of projections. It was last updated October 19, 2026.
Rating history
All LRCX reports
Recap: Q1 FY27
The 2027 Number Arrived Above $200 Billion and the Stock Fell 11.8%: China Carried September, Supply Capped December, and the Multiple Reset Faster Than the Earnings
Recap: Q4 FY26
The Framework Update Landed, and It Was Bigger Than the Quarter: WFE to Low $150B, Long-Term Model to Mid-40s Operating Margin, September Guided $1B Above the Street
Recap: Q3 FY26
Record $5.84B Revenue + First $2B+ CSBG Quarter; CY26 WFE Raised to $140B "Bias Up" and NAND $40B Pulled Forward — Maintaining Outperform on Multi-Year Compounding Setup
Recap: Q2 FY26
Records Close Out CY2025 at $20.6B Revenue; CY26 WFE Formally Guided at $135B (+28% YoY) — Maintaining Outperform on Positioning Reset
Recap: Q1 FY26
Records Across the P&L, Dec Q Sandbag Beaten by $500M, CY26 "Robust Setup" Confirms Growth Year — Upgrading to Outperform
Recap: Q4 FY25
Record Gross Margin Post-Novellus, $5.4B FY25 FCF — But Dec Q GM Step-Down + China Overhang Drive -8% T+1 Gap-Down; Initiating at Hold