Lam Research executives provided a company update to investors in New York on Wednesday, leading to a 3% increase in shares during the two-and-a-half-hour presentation. At the investor day, CFO Douglas Bettinger projected the company's revenue for 2028 to range from $25 billion to $28 billion, with adjusted earnings per share at $6 to $7. Bettinger also mentioned that adjusted gross margins are expected to reach approximately 50% by 2028.
CEO Tim Archer highlighted that Lam's previous investor day took place around five years ago. Furthermore, the company unveiled two new tools: one for depositing material on silicon wafers and another for removing material through etching processes.
These new tools are aimed at assisting companies in developing more advanced versions of flash storage, random access memory, and artificial intelligence chips.