Core Insights - Lam Research (LRCX) stock has increased by over 100%, driven by rising revenue, improved margins, and a strong valuation [2][3] - Key factors include exceptional earnings, increased demand for AI chips, and significant innovation in the market [2] Financial Performance - The stock price surged by 101%, supported by a 24% increase in revenue, a 13% rise in net margin, and a 40% increase in P/E multiple [3] - LRCX has consistently exceeded EPS and revenue projections across multiple quarters, contributing to the stock price increase [7] Market Dynamics - The demand for AI semiconductors and advanced architectures has led to a surge in orders for LRCX [7] - The global WFE market grew by 6.6% in 2025, with Q1 2025 revenues increasing by 21%, primarily driven by Korea and Taiwan [7] Profitability and Innovation - Gross margins reached historic levels, surpassing 50% in Q4 FY2025 due to enhanced operational efficiency [7] - Innovative etching technology for AI and 3D chips, along with a 13% increase in dividends, positively influenced market sentiment [7]