Lam Research Hits Record High as BofA Boosts Price Target on AI-Driven Semiconductor Demand

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2026-06-30 00:52:02

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Lam Research Corporation (LRCX) surged to an all-time high of $410.41, marking an 8.89% single-day gain as Bank of America lifted its price target to $480. The semiconductor equipment maker has delivered a 292% return over the past year, fueled by 27% revenue growth and accelerating demand for AI infrastructure components.

Advanced packaging revenue—critical for high-bandwidth memory and 3D integration in AI workloads—is projected to grow more than 50% by 2026. BofA's revised $2.7 trillion global semiconductor market forecast for 2030 reflects mounting optimism about AI's transformative impact on chip demand.

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