Lam Research (LRCX), mcap=$44bn, price $320 vs $430

$LRCX pitch:
– Supplier of semi-conductor wafer fab equipment focused on deposition and etching tools.
– High barriers to entry with large moats around its product positions.
– The oligopolistic industry is expected to grow at a 9% CAGR by 2030.
– LRCX continues to gain market share at a fast pace.

$LRCX valuation:
– Earnings are expected to reach $55-60/share by FY27.
– Trades at 7.5x earnings 5 years out.

Exp. gain: A double over the next 4-5 years.

Full $LRCX write-up (free guest account required):

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