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Lam Research Corporation (NASDAQ:LRCX) is one of the 10 Best Semiconductor Stocks to Buy According to Billionaires.

On June 11, Barclays analyst Tom O'Malley raised his price target on Lam Research Corporation (NASDAQ:LRCX) to $335 from $275. The analyst maintained an "Overweight" rating on the shares. He pointed out a wafer-fab-equipment capital spending cycle that appears "much stronger across the board." O'Malley said industry sales could exceed $200 billion in 2027. He also added that investors have already shifted their focus toward 2028 demand projections.

On June 23, BofA raised Lam Research Corporation (NASDAQ:LRCX)'s price target to $480 from $330. The analyst is bullish and maintains a "Buy" rating on the stock. BofA updated semiconductor industry models and lifted its 2030 total addressable market forecast to $2.7 trillion from $2.3 trillion. The firm attributed the increase primarily to expected growth in memory and data-center markets, along with a recovery in automotive and industrial demand.

For illustration purposes only. Photo from Pixabay/Pexels

Lam Research Corporation (NASDAQ:LRCX) designs, manufactures, markets, and provides semiconductor processing equipment used in the fabrication of integrated circuits. It functions through United States, China, Europe, Japan, Korea, Southeast Asia and Taiwan segments.

While we acknowledge the potential of LRCX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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