On July 21, Lam Research rose 3.62% in pre-market trading, trading at $320.21/share, with turnover of $1.5135 million.

On the news front, TSMC significantly raised its capital expenditure guidance during its recent earnings call, explicitly stating that AI demand visibility extends through 2030, with capex over the next three years set to markedly exceed the prior three-year period. The company is simultaneously constructing 13 advanced-node wafer fabs and advanced packaging facilities. Multiple Wall Street firms view this as a direct positive catalyst for semiconductor equipment suppliers.

On the institutional side, UBS raised its Lam Research target price to $435, Stifel to $425, Morgan Stanley to $404, Evercore ISI to $355, and Mizuho to $400. The consensus rating stands at Overweight with a mean target of $380.93. Jefferies also raised its global wafer fab equipment market forecast to $152 billion, $200 billion, and $253 billion for the next three years respectively, with potential to reach $300 billion if AI expansion continues. Across the sector, Applied Materials rose 4.47%, KLA-Tencor gained 4.27%, and Teradyne added 4.42%, reflecting broad-based equipment sector recovery.

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