Core Insights - Lam Research has entered a new cross-licensing and collaboration agreement with JSR Corporation to advance next-generation chip patterning [1] - The partnership aims to accelerate the transition to high-NA EUV lithography, essential for reducing chip features for AI and high-performance computing [2] - The collaboration will also focus on new materials and processes for atomic layer deposition and etching, leveraging Lam Research's expertise [3] Company Strategy - The partnership aligns with Lam Research's strategy to build a diverse portfolio around critical technology inflections, including EUV patterning, ALD, and advanced packaging [3] - Success in high-NA EUV could enhance Lam Research's market share in foundry and logic sectors, particularly for sub-2 nanometer nodes [4] Financial Performance - Lam Research's shares have increased by 77.8% year-to-date, outperforming the Zacks Electronics – Semiconductors industry's growth of 33.9% [8] - The Zacks Consensus Estimate for fiscal 2026 revenues indicates a year-over-year increase of 6.7% [4] - Earnings estimates for fiscal 2026 and 2027 have been revised upward, suggesting a year-over-year increase of approximately 7.5% and 11.1%, respectively [14] Valuation Metrics - Lam Research trades at a forward price-to-earnings ratio of 28.44, which is significantly lower than the industry's average of 36.51 [11] - Current earnings estimates for the upcoming quarters and years show a positive trend, with the current year estimate at $4.45 and next year at $4.94 [15]