Equity Profile

LRCX

Lam Research Corporation

Information TechnologySemiconductor Materials & Equipment$418.9B

Jul29Wed

Pre-Earnings Brief

UpcomingQ4-2026After Close5:00 PM EDT

Company Snapshot

Lam Research Corporation (LRCX) is a key player in the semiconductor materials and equipment sector, providing essential tools for the manufacturing of integrated circuits. As technology continues to advance, especially in areas like AI and cloud computing, Lam's products are critical for meeting the growing demand for chips used in various devices.

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a crucial indicator of profitability and will show how well the company is managing costs and generating income.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its market share and meet demand in a competitive industry.

N/A

Wall Street expectations, options signals, track record, and call prep available with Pro.

LRCX Q4-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

100%

Avg EPS Surprise

+127.28%

Avg Stock Reaction

+1.79%

Last Quarter Recap

In Q3-2026, Lam Research reported an EPS of $1.47, surpassing expectations by 8.17%. The stock reacted positively, gaining 2.78% the following day.

Management Promises & Guidance

Continue to innovate and improve product offerings.
Focus on expanding market share in the semiconductor industry.
Maintain strong relationships with key customers.

Expectations

Wall Street Expectations

Overall, expectations are mixed as investors await clarity on revenue growth and profitability. The market is keen to see if Lam can sustain its recent positive earnings surprises.

Bull Case

If Lam Research continues its trend of beating EPS estimates, it could signal strong demand for its products, leading to increased stock prices.

Bear Case

Conversely, any signs of slowing demand or increased costs could raise concerns about profitability, potentially leading to a negative reaction in the stock.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the revenue growth rate be this quarter?

Revenue growth is critical to understanding how well Lam is performing in a competitive market, especially given the recent trends in semiconductor demand.

Will EPS exceed the previous quarter's performance?

Given Lam's history of beating EPS estimates, any deviation could significantly impact investor sentiment and stock performance.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the impact of new product launches that could drive higher demand, leading to better-than-expected revenue growth.

Supporting Evidence

Lam has consistently beaten EPS estimates, indicating stronger operational performance than anticipated.

The options market is pricing in a larger move than historical averages, suggesting that investors expect significant news.

Recent industry trends show increasing demand for advanced semiconductor technologies, which could benefit Lam.

Key Risk

If revenue growth comes in below 5%, it could challenge the optimistic outlook currently held by the market.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance is pivotal as it will indicate whether Lam can maintain its growth trajectory amidst industry challenges.

Bull Confirmed If

A revenue growth rate exceeding 10% year-over-year would confirm the bull case.

Bear Confirmed If

If revenue growth falls below 5%, it would support the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±11.71%

Historical Avg

±2.5%

Pricing rich

The options market is pricing in a significant move, suggesting that investors expect volatility around the earnings report.

Options are pricing ±11.7% while LRCX has averaged ±2.5% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.7%

30d HV

52.1%

Calls (702K)P/C Ratio: 1.90Puts (2.0M)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Lam beats expectations, history suggests the stock could rise by about 1.79%, confirming strong demand.

In-Line / Cautious

If results are in line but cautious, the stock may react neutrally, reflecting uncertainty in future growth.

Miss

If the company misses expectations, history suggests a potential decline of around 2.61%, indicating investor disappointment.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

2 buys·1 sell

Members

House only

Est. Notional

$17,003.00–$80,000.00

disclosed dollar ranges

Most Active Members

R-OHDavid J. TaylorRep.
2

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on new product launches and their expected impact on revenue.
2Any commentary on customer demand trends in the semiconductor industry.
3Insights into cost management strategies and their effects on margins.
4Discussion on competitive pressures and how Lam plans to address them.
5Management's outlook on future earnings and market conditions.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

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Company Snapshot

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a crucial indicator of profitability and will show how well the company is managing costs and generating income.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its market share and meet demand in a competitive industry.

N/A

Wall Street expectations, options signals, track record, and call prep available with Pro.

LRCX Q4-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

100%

Avg EPS Surprise

+127.28%

Avg Stock Reaction

+1.79%

Last Quarter Recap

In Q3-2026, Lam Research reported an EPS of $1.47, surpassing expectations by 8.17%. The stock reacted positively, gaining 2.78% the following day.

Management Promises & Guidance

Continue to innovate and improve product offerings.
Focus on expanding market share in the semiconductor industry.
Maintain strong relationships with key customers.

Expectations

Wall Street Expectations

Overall, expectations are mixed as investors await clarity on revenue growth and profitability. The market is keen to see if Lam can sustain its recent positive earnings surprises.

Bull Case

If Lam Research continues its trend of beating EPS estimates, it could signal strong demand for its products, leading to increased stock prices.

Bear Case

Conversely, any signs of slowing demand or increased costs could raise concerns about profitability, potentially leading to a negative reaction in the stock.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the revenue growth rate be this quarter?

Revenue growth is critical to understanding how well Lam is performing in a competitive market, especially given the recent trends in semiconductor demand.

Will EPS exceed the previous quarter's performance?

Given Lam's history of beating EPS estimates, any deviation could significantly impact investor sentiment and stock performance.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the impact of new product launches that could drive higher demand, leading to better-than-expected revenue growth.

Supporting Evidence

Lam has consistently beaten EPS estimates, indicating stronger operational performance than anticipated.

The options market is pricing in a larger move than historical averages, suggesting that investors expect significant news.

Recent industry trends show increasing demand for advanced semiconductor technologies, which could benefit Lam.

Key Risk

If revenue growth comes in below 5%, it could challenge the optimistic outlook currently held by the market.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance is pivotal as it will indicate whether Lam can maintain its growth trajectory amidst industry challenges.

Bull Confirmed If

A revenue growth rate exceeding 10% year-over-year would confirm the bull case.

Bear Confirmed If

If revenue growth falls below 5%, it would support the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±11.71%

Historical Avg

±2.5%

Pricing rich

The options market is pricing in a significant move, suggesting that investors expect volatility around the earnings report.

Options are pricing ±11.7% while LRCX has averaged ±2.5% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.7%

30d HV

52.1%

Calls (702K)P/C Ratio: 1.90Puts (2.0M)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Lam beats expectations, history suggests the stock could rise by about 1.79%, confirming strong demand.

In-Line / Cautious

If results are in line but cautious, the stock may react neutrally, reflecting uncertainty in future growth.

Miss

If the company misses expectations, history suggests a potential decline of around 2.61%, indicating investor disappointment.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

2 buys·1 sell

Members

House only

Est. Notional

$17,003.00–$80,000.00

disclosed dollar ranges

Most Active Members

R-OHDavid J. TaylorRep.
2

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on new product launches and their expected impact on revenue.
2Any commentary on customer demand trends in the semiconductor industry.
3Insights into cost management strategies and their effects on margins.
4Discussion on competitive pressures and how Lam plans to address them.
5Management's outlook on future earnings and market conditions.