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In a market fascinated with trillion-dollar names like Nvidia (NVDA), Apple (AAPL), and Alphabet (GOOG) (GOOGL), one of the year’s best-performing semiconductor stocks goes unnoticed. Lam Research (LRCX) shares have surged 52% year-to-date (YTD), outperforming many of the biggest names in tech. Yet, it is rarely showing up on headlines or “top AI stocks” lists. The reason is that Lam doesn’t create the flashy AI chips. Rather, it builds the machines that make those advanced chips possible. Lam’s March quarter report released last week says that this position is turning into a powerful but underappreciated advantage.
