Explosion of Equipment Stocks in AI Rally... Market Cap Increased by 30 Trillion Won in One Day

On the Nasdaq, shares of Lam Research Corp (LRCX) jumped 5.88% to close at $273.99 on the 22nd. Trading volume reached 7.38 million shares, and its market capitalization swelled by roughly $21.4 billion in a single session to about $342 billion.

After the market close, the company reported record Q1 results for the quarter ended March 29, with revenue of $5.841 billion and diluted EPS of $1.45, underscoring growth driven by AI demand. It also issued a Q2 EPS outlook of $1.50 to $1.80. Even before the earnings release, institutional expectations were elevated—yesterday B. Riley raised its price target to $330.

Lam Research is a U.S. semiconductor equipment supplier that provides wafer etch and deposition systems to support advanced-node processes at global fabs and memory manufacturers such as TSMC, Samsung Electronics, and SK Hynix. It is widely regarded as a leading equipment stock poised to benefit directly from increased investments in high-bandwidth memory for AI and cutting-edge process technologies.