Lam Research Stock Is Up 114% So Far in 2026. This AI Infrastructure Stock Is Far From Finished.

Lam Research’s stock rally underscores momentum in AI chip manufacturing, with the shares up 139.25% year-to-date in 2026, including a cited 114% gain so far. The equipment supplier benefits from demand for deposition, etching, strip & clean, and related tools used to fabricate advanced chips and memory for AI systems. In its March quarter, Lam reported revenue up 24% year-over-year to $5.84 billion, and adjusted earnings per share rising 16% to $1.47, ahead of consensus. Memory accounted for 39% of systems revenue, including DRAM at 27% and 34% sequential growth in memory. Foundry contributed 54% of systems revenue, and Lam expects advanced packaging revenue to grow by more than 50% in calendar 2026. Customers include Micron, TSMC, and Samsung.