Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTSubhasree KarTue, June 23, 2026 at 6:52 PM GMT+2 5 min readSemiconductor chip by Mykola Pokhodzhay via iStockThe artificial intelligence (AI) boom is reshaping the semiconductor industry, and investors are increasingly looking beyond chip designers toward the companies supplying the tools needed to manufacture next-generation processors and memory. Lam Research Corporation (LRCX) has emerged as a key beneficiary of this trend, with its stock gaining fresh momentum after Citi lifted its price target to a Street-high $450 while maintaining a bullish outlook on the semiconductor equipment sector.Citi noted a bullish outlook for NAND equipment demand driven by the rapid expansion of AI workloads. It expects rising memory requirements from agentic AI, tighter DRAM supply, and increased adoption of solutions such as KV cache offloading to accelerate demand for NAND and semiconductor manufacturing equipment.More News from BarchartD-Wave Just Unveiled a Major Quantum Breakthrough. QBTS Stock Looks Ready for Another Surge.Micron Technology Earnings: Bull Put Spread Trade