Side by sideLam Research (LRCX) and Applied Materials (AMAT)Memos of October 11, 2026
Lam Research vs Applied Materials stock: side by side (October 2026)
How do Lam Research and Applied Materials compare?
| Lam Research LRCX | Applied Materials AMAT | |
|---|---|---|
| Revenue growth | 26.0%Jun 2026 | 4.4%Oct 2025 |
| Operating margin | 35.3%Jun 2026 | 29.2%Oct 2025 |
| Free cash flow | 4,891,252US$ thousands · Jun 2026 | 5,698US$ millions · Oct 2025 |
| Free cash flow yield | 1.2%Today (Oct 11, 2026) | 1.4%Today (Oct 11, 2026) |
| Dividend yield | 0.4%Today (Oct 11, 2026) | 0.4%Today (Oct 11, 2026) |
| P/E, last 12 months | 55.4xToday (Oct 11, 2026) | 43.7xToday (Oct 11, 2026) |
| P/E, next 12 months | 26.7xToday (Oct 11, 2026) | 27.1xToday (Oct 11, 2026) |
| Weighted price forecast, about 1 year | 343.49 (+8 %)October 2027 | 352.91 (-29%)October 2027 |
| Weighted price forecast, about 3 years | 318.04 (+1 %)October 2029 | 384.53 (-23%)October 2029 |
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Who leads on what?
| Leads | The lead is | |
|---|---|---|
| Revenue growth | Lam Research | The higher figure |
| Operating margin | Lam Research | The higher figure |
| Free cash flow | — | The higher figure |
| Free cash flow yield | Applied Materials | The higher figure |
| Dividend yield | — | The higher figure |
| P/E, last 12 months | Applied Materials | The lower figure |
| P/E, next 12 months | Lam Research | The lower figure |
| Weighted price forecast, about 1 year | Lam Research | The higher weighted return |
| Weighted price forecast, about 3 years | Lam Research | The higher weighted return |
What does each company do?
Lam Research sells etch, deposition, cleaning, wafer-edge and measurement tools, plus process software, to chipmakers and foundries—companies that make chips designed by others.
Lam Research (LRCX), from our memo of October 11, 2026 · Lam Research stock forecast
Applied Materials sells semiconductor fabrication equipment to chipmakers and packaging manufacturers.
Applied Materials (AMAT), from our memo of October 11, 2026 · Applied Materials stock forecast
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