Yuanta Securities Expects LRCX19 Profit to Grow 62% in 2027 on AI Expansion

โดย HoonVision·USCN·Read original
Summary · why it matters

Yuanta Securities views Lam Research Corporation, or DR LRCX19, as one of the beneficiaries of rising demand for NAND flash memory, especially as AI usage expands from model training toward broader real-world deployment. Lam Research derives a relatively large share of revenue from equipment used to produce NAND, while revenue from equipment for DRAM memory chips is also supported by growing demand for advanced chips, namely the stacking of DRAM into HBM, a technology in which Lam Research already has expertise. In the short term, improving US-China relations could also be a supporting factor for the company, since it generates a high proportion of revenue from China and had previously been restricted from selling certain types of equipment to Chinese customers. The meeting between Trump and Xi Jinping could fuel short-term speculative interest. For the earnings outlook for fiscal year 2027, which ends in June 2027, the Bloomberg Consensus expects normalized profit to still grow strongly at 62% year on year, while the current price trades at a PER of 32 times for FY2027. It gives a target price of 4.80 baht per DR, implying 24% upside.

Impact on assets 1

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Lam Research Corp
LRCX
▲ PositiveCapitalDemandrelevance

Yuanta/Bloomberg consensus sees FY2027 normalized profit up 62% with a 4.80 baht target implying 24% upside.

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