Strong Financial Performance: Lam Research reported a record revenue of $5.17 billion for the June quarter of 2025, marking a 10% increase from the prior quarter. For the fiscal year 2025, total revenue reached $18.4 billion with a gross margin of 48.8%. The company achieved a record gross margin percentage of 50.3% in the June quarter, driven by improved operational efficiencies and a favorable product mix.

Market Outlook: Lam expects wafer fabrication equipment (WFE) spending to be around $105 billion for calendar year 2025, revised upward from a previous estimate of $100 billion, mainly due to increased investment from domestic Chinese customers. The company anticipates that WFE spending in the second half of the year will remain flat compared to the first half. For the September 2025 quarter, the forecast is for revenue of $5.2 billion, plus or minus $300 million.

Growth Drivers: The company is well-positioned for growth in key technology areas such as gate-all-around structures, advanced packaging, and NAND layer conversions. Lam believes it can outperform in the coming years by capturing over 50% of the incremental served available market (SAM) driven by technological advancements and growing demands in AI applications.