Lam Research system revenue up 35% QoQ as AI pushes 2027 WFE past $200B
BenBajarin · x · 2026-10-23
Lam Research posted 35% sequential growth in systems revenue for the September quarter, and Creative Strategies' earnings read highlights the implications.
Key points: AI adds process complexity and wafer demand, expanding etch and deposition work; Lam preliminarily sees 2027 wafer fab equipment spending topping $200 billion versus a mid-$150 billion 2026 — above the $187B base case and just under the $208B high case, with management calling it a constrained number with real demand above it. It's the second equipment maker in two weeks to land on the high case after ASML's 85-system EUV plan. Cleanroom space and component supply will set the pace, and NAND finally needs more wafers per bit shipped.
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