Description

Lam Research’s $140 Billion AI Equipment Boom — Can It Capture More?

Lam Research Corporation reported a strong start to calendar year 2026, delivering record quarterly revenues of $5.84 billion for March, up 9% sequentially and 24% year-over-year. This marked the third consecutive record revenue quarter. Earnings per share reached a record $1.47, exceeding the upper end of the company’s guidance, supported by gross and operating margins near the high end of expectations with a 49.9% gross margin and 35% operating margin. The Customer Support Business Group (CSBG) generated over $2 billion in revenue for the first time, growing 6% sequentially and 25% year-over-year, bolstered by strong demand for spares, services, and upgrades amid robust factory utilization across the semiconductor industry. Market segment breakdown revealed foundry accounted for 54% of systems revenue, down from 59% the prior quarter but still showing a 35% increase year-over-year, driven by investments in leading-edge and mature node technologies including advanced packaging.