Lam Research: The Invisible Giant Behind the Chip Revolution

Lam Research is not just a simple semiconductor stock but a technological enabler for AI memory (HBM) and next-gen processors. With its market leadership in high-precision etching processes, the company profits disproportionately from the shift to 3D chip architectures. The company impresses with an excellent financial structure, boasting record gross margins of over 50%. Particularly attractive to investors is the high proportion of recurring revenues (approximately 40%) from maintenance and spare parts. Beyond memory, the transition...