Over the past five trading days, Lam Research shares have jumped 16.9%, propelled by two separate analyst upgrades from major Wall Street firms. One upgrade raised the stock’s long-term earnings growth projection by 200 basis points to 12% per year, while another increased its revenue forecast for fiscal 2026 by $1.2 billion. Trading volume during the rally averaged 1.8 million shares per day, 35% above the stock’s 30-day average, underscoring heightened institutional interest.

Lam Research reported that AI-related customer bookings climbed 45% year-over-year in the December quarter, accounting for approximately 30% of total orders. Management highlighted that next-generation high-NA lithography and advanced etch tool deployments are central to this surge. Backlog reached a record $9.5 billion at quarter end, up from $7.8 billion six months earlier, reflecting multi-year commitments from leading cloud service providers and AI chipmakers.

Lam Research will host its December quarter conference call on Wednesday, January 28, 2026, at 2:00 p.m. Pacific Standard Time. Investors can access the live webcast via the Investors section of Lam’s website, with a replay available approximately three hours after the conclusion. The event is expected to shed light on guidance for fiscal Q1 2026, with analysts closely watching management’s outlook for capital spending trends among semiconductor foundries.