Lam Research Corporation (LRCX) is slated to report its fourth-quarter fiscal 2026 results in late July, with a record revenue target of $6.6 billion. The ongoing boom in artificial intelligence (AI) chips could help Lam Research achieve that goal, as demand for advanced semiconductor equipment rises with chipmaker capacity expansion for AI processors, high-bandwidth memory (HBM) and next-generation logic devices. In the third quarter of fiscal 2026, revenues increased 24% year over year to a record $5.84 billion, systems revenues climbed to $3.73 billion, non-GAAP earnings per share jumped 41% to a record $1.47, and non-GAAP gross margin improved 90 basis points to 49.9%. Management expects advanced packaging revenues to grow more than 50% in calendar year 2026. Lam Research estimates global wafer fabrication equipment spending of approximately $140 billion in calendar year 2026. The Zacks Consensus Estimate for fourth-quarter fiscal 2026 revenues is currently pegged at $6.67 billion, higher than the midpoint of management’s guidance range. Main competitors Applied Materials, Inc. and KLA Corporation are also benefiting from the AI chip boom; Applied Materials generated revenues of $7.91 billion in the second quarter of fiscal 2026.